Mortgage News Daily
MBS CLOSE: What Can Today Tell Us About Tomorrow?

Posted To: MBS Commentary

This is always the question right? I mean, after all, we already know what is available on our rate sheets at the moment, but the most valuable question always asks for tomorrow's MBS prices today. Forgetting for a moment that you'll usually LOSE more money thinking that way than you'll make, let's suspend GUTFLOP and see if we have any hints at tomorrow's action according to today's events. First, the fundamental arguments... What do we know? 10yr auction built up a decent concession going in and stopped pretty much on the screws (meaning that rates went up ahead of the auction, then we saw strong demand at those rates) Strong demand AT THOSE RATES is evidenced by the relatively high "offers accepted at high" metric from the auction, meaning that most of the...(read more)

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Mortgage Rates Rise Ahead of Treasury Auction. Fail to Recover Afterward

Posted To: Mortgage Rate Watch

Much like Monday, yesterday was a data-less day in the marketplace, leaving me at a loss for words and new guidance. Mortgage-backed securities prices did managed to move higher following a very strong 3 year Treasury debt auction, unfortunately MBS price appreciations were not strong enough to warrant reprices for the better and lenders left mortgage rates unchanged on the day. The economic calendar picked up today, but not much. This morning the Mortgage Bankers Association released their Weekly Loan Applications Index. The MBA survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase...(read more)

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MBS AFTERNOON: Mortgages Playing Follow the Leader with Benchmarks

Posted To: MBS Commentary

Heading into the 5pm "what a slow day in the mortgage market" marking period... The FN 4.0 is -0-03 at 98-01 yielding 4.189% and the FN 4.5 is flat on the day at 101 the rock yielding 4.39%. The secondary market current coupon is 4.33%. The CC yield is 61bps over the 10yr TSY note yield and 58.6 basis points over the 10 yr swap rate. Static current coupon yield spread valuations are TIGHTER AGAIN! Holy relentless yield spread tightening! LOOK HOW SIDEWAYS FN 4.5 PRICES WERE TODAY! The MBS NINJA shares his thoughts on the recent stability of "rate sheet influential" MBS coupons in the face of rising benchmark yields: Mortgages, trading in the secondary market (soon to filter back to the primary and rate sensitive one), are tightening daily as more money is put to work along...(read more)

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FICO: Americans More Likely to Default on Mortgages than Credit Cards

Posted To: MND NewsWire

American consumers are now defaulting on their mortgages in even greater numbers than they are walking away from credit card debt. According to FICO's® Score Trends Service, this is a phenomenon that is historically unique. FICO said the mortgage default risk for consumers with high FICO scores now exceeds their credit card default risk, even though most credit cards are unsecured credit and mortgages are secured by real estate. There is a parallel rise in mortgage delinquencies for these high scoring consumers. The company said that their analysis of trends in FICO scoring shows that recent repayment behavior has shifted significantly from what has historically been expected. In 2005 bankcard accounts were more than 3 times more likely to become seriously delinquent, that is 90+ days...(read more)

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MBS LUNCH: 10 Year Treasury Auction Results and Reactions

Posted To: MBS Commentary

10 year auction has impressive demand, but at higher rates. 3.45 Bid To Cover, but 3.735 % high yield with 70.94% of the bids at high yield MBS and Treasuries both slightly better on the announcement 4.5's are now down only 2 ticks on the day at 100-29 and 10yr yields are back down to 3.72+ from 3.74+ Here is a breakdown of the auction results: 9-YR 11-MO NOTES YIELDS High 3.735 pct Median 3.700 pct Low 3.636 pct PRICE/ACCEPTANCES Price 99.090493 Accepted at high 70.94 pct Bid-to-cover ratio 3.45 AMOUNTS TENDERED AND ACCEPTED (dollars) Total accepted 21,000,013,800 Total public bids tendered 72,466,493,000 Competitive bids accepted 20,829,510,800 Noncompetitive bids accepted 70,503,000 Fed add-ons 248,452,700 Primary Dealer Tendered 49,661,000,000 Primary Dealer Accepted 9,857,410,000 Primary...(read more)

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Foundation Only
Welcome to Foundation Realty

Welcome to Foundation Realty - Serving the Lenawee County Area.  Make sure to check out featured listings below and don't forget to see what new properties are available  by searching to the left

Status: Active Address: 10429
Listing Price: 135000 Street: Slee Rd
Square Feet: 2000 City: Onsted
Aprox Acreage: 7.4 State: Mi
Baths:  2 Zip: 49265
County: Lenawee Township: NONE
Public Remarks:
Total interior renovated! 3br 2ba farm home with over 7 acres. Multiple buildings and pole barn. Fabulous 28x20 kitchen. First floor laundry. .
Read More...


Status: Active Address: 3683
Listing Price: 119900 Street: Mystic Ct.
Square Feet: 1248 City: Adrian
Aprox Acreage: 0.54 State: Mi
Baths:  3 Zip: 49221
County: Lenawee Township: Raisin
Public Remarks:
Brand new home turnkey home!! owner will be able to make all selections. Home features 3 bedrooms, 2 baths, full basement, 2 car attached garage, and so much more. Property is broker owned. Taxes not yet assessed. .
Read More...
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