Maine Mortgage Market Wrap

MARKET WRAP: Mortgage finished near unchanged levels but were able to pare losses after news that a new earthquake hit Japan, which drew money out of Stocks and into the Bond markets. The 4% coupon finished at 97.78 up 6bp. The only economic report today showed that Initial Jobless Claims fell 10,000 in the latestContinue reading “Maine Mortgage Market Wrap”

Weak Existing Home Sales and AT&T Buys T-Mobile

MARKET WRAP: The announcement from the Treasury that it will begin selling $10B in Mortgage Backed Securities each month starting this month sent MBS prices lower today. The total amount the Treasury owns is $142B. The news sent MBS and Treasuries considerably lower but they did manage to pare some of those losses by theContinue reading “Weak Existing Home Sales and AT&T Buys T-Mobile”

Japan continues to rock the markets

MARKET WRAP: The devastation in Japan continued to rock the markets today forcing investors to panic sell in the equity markets pushing the Dow Jones down nearly 300 points before paring more than half of those losses by the time the Stock markets closed at 4:00pm ET. The selling of equities lifted the Bond marketsContinue reading “Japan continues to rock the markets”

Japan and the Mid East Impact Bonds.

Mortgage Bonds moved higher today on the devastating news out of Japan and as the unrest in the Mid East continues but they closed well off the best levels of the session halted by resistance and as Stocks were able to pair 2/3s of the days losses. The 4% coupon finished at 98.66 up 22bp.Continue reading “Japan and the Mid East Impact Bonds.”

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