Maine Mortgage Market Wrap

MARKET WRAP: MBS had a great day finishing up 66bp settling at 101.25. Unfortunately, the reason for this rally is due to bad economic news. This morning’s ADP Report was poor, ISM very weak, and also a downgrade of Greek debt caused Bonds to improve throughout the trading day. As seen on the Bond Chart,Continue reading “Maine Mortgage Market Wrap”

Maine Mortgage Market Update 11.08.09

Mortgage bond prices opened slightly higher Monday morning erasing some of the losses seen Friday afternoon. There is no economic news set for release today, therefore traders will watch stocks to help gauge interest rate direction. The equity markets open at 9:30 am ET. This afternoon the Treasury will auction $32B in 3-year notes withContinue reading “Maine Mortgage Market Update 11.08.09”

Maine Mortgage Market Update 11.02.2010 Election Day

Mortgage bond prices are positive this morning helping to bounce back a bit from the steep selloff yesterday. Traders will position themselves ahead of the Fed results tomorrow afternoon. Many believe the Fed will announce continued quantitative easing. Quantitative easing is tool used by the Fed to increase the supply of money by increasing theContinue reading “Maine Mortgage Market Update 11.02.2010 Election Day”

A Look ahead at events that can effect Mortgage bond prices 11.01 to 11.05

The Fed meeting this week will be the most important release.  While no rate change is expected the wording of the statement will be carefully scrutinized. LOOKING AHEAD 11.01 to 11.05 Economic Indicator Release Date & Time Consensus Estimate Analysis Personal Income and Outlays Monday, Nov. 1, 8:30 am, et Up 0.3%, Up 0.4% Important.  A measureContinue reading “A Look ahead at events that can effect Mortgage bond prices 11.01 to 11.05”

Maine Mortgage Market Update 11.01.2010

Mortgage bond prices are near unchanged on the day, holding some slim gains from Friday afternoon. The data this morning was mixed. We initially rallied following the 8:30 am et data. Personal income fell 0.1%, weaker than the expected 0.2% increase. Personal Outlays rose 0.2%, weaker than the expected 0.4% increase. This data was bondContinue reading “Maine Mortgage Market Update 11.01.2010”

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