MBS RECAP: Slow Day; No Drama; No Data; No Reprices

By: Matthew Graham •

Today's session barely had a pulse.  Weather is nice.  It's the day after a 3-day weekend, and there was nothing meaningful on the event calendar.  That made today a prime candidate for a 4-day weekend in financial markets.  Not only does this affect participation due to absences, but also from the simple expectation of absences.

The overnight session started off with mild weakness during Asian hours, but European markets helped US rates bounce back.  In fact it wasn't until European markets closed that Treasuries and MBS finally exited their small rallies and went sideways for the rest of the day.  Apart from Europe, equities markets exhibited some correlation as well (i.e. stock prices following bond yields).

MBS held very modest gains.  Treasuries did a bit better, falling 3.4bps from Thursday's latest levels and heading out near the lows of the day.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.0
97-32 : +0-05
FNMA 3.5
102-04 : +0-02
FNMA 4.0
105-15 : +0-00
Treasuries
2 YR
0.5159 : +0.0039
10 YR
2.6138 : -0.0342
30 YR
3.4388 : -0.0442
Pricing as of 7/7/14 4:48PMEST
Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
1:56PM  :  Off the Highs, but Narrow Range Limits Reprice Risk
9:15AM  :  Bond Markets Slightly Stronger Overnight; Limited Activity So Far
MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Chip Harris  :  "Yes, they can, Edie. Just cant have another FHA loan. Also, they need a very substantial down payment to get a reverse mortgage for a purchase. Depending on their age, somewhere in the 50% plus range usually."
Edie Clark  :  "Reverse Mortgage Question--can Borrower own other property and still use a Reverse Mortgage to purchase new Primary Residence? "
Joshua Crater  :  "http://mndne.ws/1xn8q4f - this is a very interesting article.."
Victor Burek  :  "Frank, you are permitted to call appraiser, you just cant request a certain value"
Frank Hanna  :  "Who is permitted to call the appraiser besides the AMC per UAD? UW, Non producing manager?"