REIA Network Founder Donna Robinson discusses new data on the current state of the housing market, the newest indicators of increasing foreclosures, and strategies for investing in this market. This update was recorded June 10th, 2009. Market Updates are posted as needed so check back regularly for new updates. teleconference60109dr
closing post for NFP thursday before the 4th of july weekend. 5.0's ticked up a bid after the book close, 4.5's ticked down. the 10yr went sideways a mere 3/1000's off 3.5 even. Likewise, 4.5's and 5.0's are both within a tick of 100-00 on 102-00 respectively. Talk about technical gravity! ...(read more) […]
After reaching an intraday high of 102-06, the FN 5.0 has moved back to its long standing resistance 102-00 price level. Meanwhile, the other "rate sheet influential" MBS coupon, the FN 4.5, which we are still not willing to award the current coupon title belt...is feeling the gravitational forces of "parnertia" pulling on prices....(read […]
On Thursday July 2nd, following the release of weaker than expected NFP, MBS continue to rally in a relatively stable pattern. Tsy's are following a similar pattern but are certainly outperforming, thus causing massive spread widening. This could be a good sign for next week, but a potential short covering rally in stocks is a risk suggested by techni […]
Price of mortgage-backed securities progressively moved higher as the day wore on yesterday, after all was said and done loses from the prior day were recovered. The improvement in price allowed most lenders to reprice for the better by day’s end. Helping fuel the turnaround was the stock market moving off its highs of the day and benchmark treasury yield […]
The pace of losses in the labor market had been moderating for four months but in June nearly half a million jobs vanished from the economy, in contract to widespread expectations. The Bureau of Labor Statistics said 467,000 jobs were lost, pushing the unemployment rate to 9.5%, the highest in 26 years. “The heavy loss of jobs in June is a warning that the r […]
The MBS trading environment remains defensive. Market participants still broadly prefer to avoid extension risk heavy "down in coupon" strategies as there are far better, shorter lived "up in coupon" positions that can be taken (minimal prepay risk in the mortgage market right now)...leaving the Federal Reserve alone to fight off originat […]
Forecasts were much too optimistic for the June employment numbers. The labor market lost 467,000 jobs last month, pushing the unemployment rate up one-tenth to 9.5%, its highest level in 26 years. Analysts had been looking for just 325,000 lost jobs....(read more) […]
MBS OPEN: NFP IN! -467k. Previous Revised Down as Well!. MBS and tsy's react by initially improving. 10 yr heading to 3.5./ MBS up 4-5 ticks. Jobless claims also out worse than expected..................................................................(read more) […]
Markets are edging lower ahead of the 8:30 release of Nonfarm Payrolls. A lot is hanging on this report as many forecasts for the economy are dependent on the direction of the labor market. Many look for signs of stabilization after last month’s downside surprise, but signs of a recovery have been far from evident in the weekly Jobless Claims numbers or the […]
The Home Affordable Refinance Program was designed to assist borrowers who have demonstrated an acceptable payment history on their existing Fannie Mae or Freddie Mac owned mortgage loan. Unfortunately due to rising unemployment levels and increasing foreclosure rates, demand for housing has weakened and property values have continued to decline, which has b […]
