MBS RECAP: 12/12/2011
By:
Matthew Graham
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MBS Live: MBS RECAP
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| Pricing as of 4:00 PM EST | ||||||||||||||
Afternoon Market Updates
A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard.
3:43PM :
ALERT:
Slight Chance of Negative Reprices as MBS hit Lows
This is one of those alerts where we wouldn't be shocked to see a lender or two reprice for the worse, but it certainly wouldn't be justified (the reprice, that is.... Not the shock...). Volume is so low and the trading range has been so narrow that even saying "lows of the day" is a bit of an overstatement.
Fannie 3.5's are at 102-01, which is only 2 ticks lower than the 102-03 technical target. 10yr yields are similarly near their highs of the day, but again, volume and volatility are low, and 10's are still very much in their range (not to mention that it's after the 3pm close and most market participants are moving on to tomorrow).
Fannie 3.5's are at 102-01, which is only 2 ticks lower than the 102-03 technical target. 10yr yields are similarly near their highs of the day, but again, volume and volatility are low, and 10's are still very much in their range (not to mention that it's after the 3pm close and most market participants are moving on to tomorrow).
Featured Market Discussion
A recap of the featured comments from the Live Discussion on the MBS Live Dashboard.
Michael Tadros : "REPRICE: 3:46 PM - Interbank Worse"
Matt Hodges : "homepath.com - in general, if 3% down, gift okay, but at 5% (better rate) I think you need the 1st 5% before gift"
Timothy Baron : "Hi everyone. Quick question: Homepath - are gifts allowed? Specifically, the agent is related to the borrower and wants to gift her commission to be used for down payment/cc's."
Jason York : "you can go over the county limit, as long as you have 25% guarantee "
Matt Hodges : "VA = stay at max, incl. FF; FHA = max plus UFMIP"
Dustin McAlister : "va cash out refinance----do you factor in the Va funding when calculating your total max loan amount---example county loan limit 818500, base loan 817000 funding fee 26691 total loan 843691 equals not a doable deal---value 840k for home"
Matthew Graham : "RTRS- US TREASURY - PRIMARY DEALERS TAKE $17.21 BLN OF 3-YEAR NOTES SALE, INDIRECT $12.50 BLN"
Matthew Graham : "RTRS- U.S. SELLS $32 BLN 3-YEAR NOTES AT HIGH YIELD 0.352 PCT, AWARDS 7.09 PCT OF BIDS AT HIGH"
Matthew Graham : "0.352 high yield"
Victor Burek : "3.62btc"
Matthew Graham : "WI = 0.361"
Michael Tadros : "REPRICE: 12:14 PM - Interbank Better"
Jeff Anderson : "REPRICE: 11:52 AM - Chase Better"