MBS RECAP: Bond Markets Sleep In But Miss Alarm Altogether

MBS Live: MBS Afternoon Market Summary

There's no denying that it's a bit harder than average to get out of bed on the Monday following "spring forward," but bond markets seem to have avoided that chore altogether today.  Volume and volatility are among the lowest few sessions of the year for both MBS and Treasuries despite a reasonable advance in the equities complex.  This was a problem right from the outset.  Even though Asian and European markets were open and even though there were several economic reports and moderately interesting headlines, none of it inspired any commitment for better or worse in bond markets.  10yr Treasuries spent the day almost exclusively between 2.04 and 2.06 while Fannie 3.0 MBS held a narrow 3 tick range between 102-03 and 102-06.  Tomorrow should see a moderate ramp up in activity though still remains relatively sparse as far as the calendar is concerned. 

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.

Afternoon Reprice Alerts and Updates

Below is a recap of instant Reprice Alerts and updates issued via email and text alert to MBS Live subscribers this afternoon.

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Live Chat Featured Comments

A recap of the featured comments from the MBS Live Dashboard's Live Chat feature, utilized by hundreds of industry professionals each day.

Jason Anker  :  "Chip thats an over lay, FNMA does not need a 2 yr hist - have her file 2012 and use that with a lender lacking that overlay"

Tom Bartlett  :  "Does'nt FNMA require onlyb rental/lease income listed on the most recent 1040 tax return?"

Chip Harris  :  "Anyone know of any way to count rental income for properties purchased and paid for in cash last year? First time landlord. Was renting part of her current home out since 2011 but of course, she took cash and didn;t report it."

Dirk Postupack  :  "7 a.m.....you can see the whole week of data on the economic calander below."

Steve Chizmadia  :  "http://www.bloomberg.com/news/2013-03-10/cheapest-treasuries-since-11-alluring-to-gundlach-as-pce-falls.html"

Dirk Postupack  :  "At least we have some time after the auction to see how the market is going to react and have the ability to lock....these 8:30 a.m. reports are killer bc we can't lock."

Dirk Postupack  :  "Tim....no big economic data tomorrow...wed, thurs and fri, are heavy.....10 yr auction 1 pm on wednesday......I personally am floating to that point and see how that goes with my finger on the trigger if auction is bad."

Niccolo Satullo  :  "Just don't be the guy to find 100 dollars on the ground and walking away from it in hopes of finding 200 dollars :) "

Niccolo Satullo  :  "Either way, you still get an amazing loan "

Brett Boyke  :  "damage has been done, may as well see if we rally and keep your finger on the lock button iof not"

Tim Mitchell  :  "so you're saying that could represent a floor and as long as we are trading above it i'm fine and things could improve?"

Steve Chizmadia  :  "Tough one Tim. Personally I would float as long as the 3.0 coupon stayed above 102. Just my opinion though"

Tim Mitchell  :  "just got the contract signed over the weekend"

Tim Mitchell  :  "so i'm trying to decide on my own lock, closing april 8th .... leaning towards pulling the trigger today"

Matthew Graham  :  "JT, I think this is/was it: http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2013/HUDNo.13-010"

John Toepfer  :  "anyone have a link/info on the FHA MIP that is changing 6/1? first i heard of life of loan MIP!"

Clayton Sandy  :  " Provident is back to Friday morning's pricing now with the reprice. "

Steve Chizmadia  :  "Kinda hard for investors and secondary to not take a little off the top heading into the weekend after the week we had last week"

Steve Chizmadia  :  "Maybe they like the lack of volatility in the mbs markets"

Ray J  :  ".25 better for 30/30"

Ray J  :  "REPRICE: 12:03 PM - Provident Funding Better"

Christopher Stevens  :  "not liking todays 10YR at all"

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