MBS South: Back-Up before Bernanke

Updates market Morning

Recap of the MBS market updates provided by analysts and live streamed to MND dashboard MBSonMND.

10: 04 AM : Homeownership rate Falls in 1st Quarter 2011

(Census Bureau)-the National vacancy rate in the first quarter of 2011 are 9.7% for rental flats and 2.6 percent for homeowner housing, Department of Commerce Census Bureau announced today. The rate of vacant rental 9,7% inflation was 0.9 of a percentage point lower than the rate recorded in the first quarter of 2010 (+/-0.5 percentage point) and percentage of 0.3 points higher than last quarter (+/-0.4) *. Homeowner vacancy rate percentage 2.6 around was the same as the first quarter of 2010 rates (+/-0.2) and 0,1 of a percentage point lower (+/-0,2) than the rate last quarter (2.7%). Homeownership rate 66.4 per cent was 0.7% (+/-0,4%) lower than the rate of the first quarter of 2010 (67.1%) and percentage of 0.1 (+/-0,4%) * lower than the rate last quarter (66.5%). FULL version: http://www.census.gov/hhes/www/housing/hvs/qtr111/files/q111press.pdf

9: 55 AM : TSYs and a little bit weaker after stocks MBS Open

After rallying to a closing high since mid-2008, S & p holds in green so far this morning at 1348.93. Until 930 m stock exchange opened, 10 yr note took days to 3.353 quite well, but recently rose to 3.357. MBS are also on the level of the weakest of the 4 5 FNCL down 7 marks to 102-10. The volume is low ahead of 1130 am auction 5 yr Treasury notes and 1230 pm Fed announcement.

9: 02 AM : Bernanke's code: a guide to the first Q Fed Chairman & and

(WSJ)-when Federal Reserve Chairman Ben Bernanke makes its debut press conference Wednesday, the first letter of each word will be processed the signs where hopes to take the U.S. monetary policy. In particular, many people want to know when the central bank will raise interest rates, and when it will begin off-loading certain assets, including Treasurys and its multitrillion Dollar cache mortgages. As Mr Bernanke touches on topics known to Fed-watchers, he will use the seemingly ordinary words or phrases that are transported from the major economic news in the world the Fed. A few examples: read EM on WSJ: http://online.wsj.com/article/SB10001424052748704729304576287402925861890.html

8: 49 AM : glass breaks as short covering rally runs its course

If you're betting on the security referred to in one direction and far enough away moves in the opposite direction, you are forced to "cover." In doing so, you must move the prices even more, forcing other similar establishments are the same--snowball effect. This is a, which occurred yesterday in the benchmark treasuries, therefore we were not too excited with the gains coming today, and in part explains why MBS participate not only in the event. And so, that we shall be greeted this morning by the 10 yr yields in a wide range of yesterday morning, now 3.353. FNCL 4.5 MBS are down 6 ticks on 102-11. Data on durable goods, which simply was released had little impact on the markets of bonds and as expected, are we waiting for FOMC at 1230 pm. There is also a 5-yr auction at 1130 m, but the Fed announcement and the subsequent press conference, you can easily trump "normal" Auction results. Simply taking things one link at a time, until such time as it is. ..

8: 32 AM : data FLASH: goods sustainable growth of 2,5%

* US MARCH DURABLE ORDERS + 2.5 PCT (cons. ACCOUNTED for PCT) VS. FEB + 0.7 PCT (PCT PREV-0.6) * FEB US MARCH DURABLE EX-TRANSPORT + 1.3 PCT (PCT CONS + 1.8) VS. + 0.6 of the PCT (PCT PREV-0,3) * US MARCH DURABLE EX-DEFENCE + 2.3 PCT (PCT CONS + 1.7) VS. FEB ACCOUNTED for PCT (PCT PREV + 0.7)

7: 56 AM : new post comment MBS

Functional market discussions

Daniel Kramer : "michael, the loan is for 300 k or more, and guy are cheap, can be made from not buy down on 5/3"

Matt hodges : "perform calculations on the cost from 4.75% to 4.625%-repayment time more than 10 years, I don't know why it would be attractive at all"

Michael Owens : "I know, either paying or par in principle. Thanks To"

Chris kopec : "MO ... one big projection 4.625) and (4.750."

Adam Quinones : "it warms my heart to see LOs talk about dividends of production."

Michael Owens : "point 2"

Rob Clark : "tree credits pushes 4.5 here in CA"

Michael Owens : "so the other guy offer-as I said, my client," available only on fantasy mortgage. ""

Matt hodges : "stretch, huge, taking into account does not work in version 4.0 coupon"

Michael Owens : "me either"

Brent borcherding : "doubtful".

Michael Owens : "each see contract 4.625% 30 year fixed, 45% LTV 780 result does not require a Buy down?"

Andrew Horowitz : "Off-topic, anybody here have a Warehouse line by the Bank of the Atlantic?"

Matt hodges : "reading on loan fraud in Charlottesville, Interesting http://www.realcentralva.com/2011/04/27/it-may-not-be-widespread-but-even-once-is-wrong/"

Adam Quinones : "makes you think, we can already has registered in other countries, who will ultimately scorn us to levels of a high level of debt."

Adam Quinones : "we're hiring of emerging economies, use our resources in the supply chain has been developed to build their own supply chains. good or bad orneed? "

Rob Clark : "CNBC, said Ron Paul that the low Dollar was a good thing as we pay foreign investors less."

Adam Quinones : "export ye, Mon State and manufacture!"

Matthew Graham : "the index of the Dollar at 3 years low this AM"

Caroline Roy : "each fishing NDP bits to index the case/Schiller Home to Opera? It's amazing and quite fun! http://www.NPR.org/blogs/Money/2011/04/26/135737940/The-Case-shiller-index-Sung-as-Opera "

Adam Quinones : "Lock" all "means floating everything youre not ever recommend run Naked."

Adam Quinones : "use these two posts to tom decision."

Adam Quinones : "forced intervention leaves rates lower. MBS delay. Bond connectedpoll: http://www.mortgagenewsdaily.com/mortgage_rates/blog/208964.aspx "

Adam Quinones : "interest rate mortgage: the lowest borrowing costs in the month: http://www.mortgagenewsdaily.com/consumer_rates/208960.aspx"

Tom duff : "should I block all or wait, that is the question?"

MMNJ : "Suntrust is 70LTv and 720 FICO ... .. sorry ...:("

MMNJ : "Steve, I remember seeing something about Suntrus for up to 75% on i/o If FICO is 680 or higher"

Adam Quinones : "http://www.mortgagenewsdaily.com/garrett_watts/138658.aspx"

Adam Quinones : "http://www.mortgagenewsdaily.com/garrett_watts/134320.aspx"

Adam Quinones : "http://www.mortgagenewsdaily.com/garrett_watts/142061.aspx"