MBS ALERT: HOUSING PLAN RELEASED

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Executive Summary....LINK

Fact Sheet...LINK

Key Components of the Plan

1. Refinancing for Up to 4 to 5 Million Responsible Homeowners to Make Their Mortgages More Affordable

2. A $75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners

3. Supporting Low Mortgage Rates By Strengthening Confidence in Fannie Mae and Freddie Mac

 

Post Obama Housing Plan Press Conference Prices...

1040 marks...

Slight sell off...spreads mostly wider

FN30___________________________________

FN 4.5 -------->>>> -0-03 to 101-01 from 101-04                                      

FN 5.0 -------->>>> -0-02 to 102-04 from 102-06                                 

FN 5.5 -------->>>> -0-03 to 102-20 from 102-23   

FN 6.0 -------->>>> -0-05 to 103-07 from 103-12                                       

GN30____________________________________

GN 4.5 -------->>>> +0-03 to 101-10 from 101-07

GN 5.0 -------->>>> +0-09 to 102-22 from 102-13

GN 5.5 -------->>>> +0-06 to 103-02 from 102-28

GN 6.0 -------->>>> +0-00 to 103-10 from 103-10

Bonds: Yields on the Rise as flight to quality unwinds

Stocks showed brief sign of a rally but have since put optimism on pause