Groups are smaller communities within the larger ActiveRain. Join groups created by others. or start your own and
get others to join
This is the place to view the past and present contests put on by ActiveRain and its members. Everyone can join the
group and help encourage each other. Current contest will be highlighted posts so it's easy for you all to see. Let it
Curious as to what others in your profession think about a certain product or tool?
AR's community takes the time to leave honest and transparent reviews of their experiences
so you can be a bit wiser about your purchase.
Broken down by categories and subcategories for easy finds
Get an unfiltered look at what real users are saying
Leave a review yourself for others to benefit from
Add new products as you use them and gain points for doing so
ActiveRain University (ARU) provides free on-line training. We coach, consult and support real estate professionals about real estate trends, technology and social media.
ARU Calendar provides class types and registration links
Watch short tutorials on updating your photo, inserting a hyperlink and much more
Sign up for the Daily Drop so you don't miss out on AR's daily happenings
Find answers to most FAQ's
Whatever it is you're into and wherever you are, AR surely has a group for you to join.
Brand, off the wall, specific subject matters…whatever it is you're looking for.
Each time you write a post you can syndicate your post to 5 groups.
And if by chance you don't find what you're looking for, start a new group today!
Get your content in front of more eyes
Search by location or type
Feel free to start your own group
Find some that are close to home and close to heart
Each month AR runs numerous contests as a way for our members to engage in activities
that will boost their business and increase their visibility in the community and beyond.
Earn points by partaking in these contest and climb the leaderboard
Do what's good for you and your business by participating
If you have an idea for a contest, just let us know
Stay motivated and on track with new contests popping up each month
Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
Play the teacher role and help someone out today
Your Homepage will alert you of new questions in your state
A wonderful way to open a door to a possible new client
Ask a question yourself to get help
These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
Need A Mortgage While Rates Are Still At All Time Lows!!! - 05/31/12 03:35 AM
My name is Nikitas Kouimanis. I am a Senior Loan Officer and I want to help you with all your mortgage questions and needs. If you are looking to work with someone who has vast knowledge of all loan options but also has your best interests in mind you’ve come to the right place. Whether you are purchasing or refinancing a home, the process can be complicated and it’s vital that you know all options available before you move forward. Owning a home to most people is their biggest investment, and I want to help you get the most out of (0 comments)
Stated Income Mortgage Loans - 05/28/12 02:36 PM
No Income Stated Mortgage No income stated mortgages are a very specific type of loan program. It is very different then a typical home loan. The way it works is just like it sounds; it’s a loan program that doesn’t require you to state any income and requires much less documentation. Where a more traditional loan requires a lot of documentation because the lender wants to insure themselves you are a safe and responsible borrower. With a no income stated loan you do need almost perfect credit and in most cases a fairly high down payment is required since it is (0 comments)
Conventional Loans, Jumbo Loans, FHA Loans VA Loans, Debt Consolidation Loans And What They Mean - 05/28/12 02:21 PM
Conventional Loans These days there are many different home loan programs for you to choose from, one of the most popular and tried loan programs available is a conventional loan. A conventional home loan is any mortgage which is not guaranteed or insured by any government agency. One of my biggest specialties is helping clients with their Manhattan, Brooklyn and Long Island conventional loan needs and questions. I created this page to inform you on the details of a conventional loan. Conventional loans are one of the original home loan products. They follow guidelines set by Fannie Mae. Fannie Mae is (0 comments)
The temptation is strong. There are so many big purchases people want to make in connection with a move: appliances window treatments, furniture etc. When you add to this the fact that, today, everyone offers terms and no money down- well, why not just do it? Answer because you will change what the mortgage industry calls your "debt -to -income ratios" (the relationship of your income to your debt).
Do not change jobs.
If at all possible try not to make a career move during the time between your (6 comments)
Are you concerned about the financial strength or stability of the bank you are working with?
Sterling was founded in 1929 and we can proudly point to a solid track record of financial strength and growth. We encourage you to visit our website http://www.snb.com to view a variety of news reports on Sterling’s success as well as our most recent earnings reports. You can also visit my personal website at http://www.snb.com/nkouimanis.
Are you becoming dissatisfied with the level of service (0 comments)
I would like to take a minute to introduce my company and myself. Sterling National Bank is a full service banking institution founded in 1929. Our parent company, Sterling Bancorp http://www.sterlingbancorp.com/, is a publicly traded (NYSE: STL) bank holding company with assets over $2 billion dollars.
Despite the recent turmoil in the real estate and mortgage markets, Sterling National Mortgage has been able to grow and thrive. As a bank Sterling National Bank, has the strength and stability that allows us to offer an extensive product line with mortgage programs to suit virtually any need. Furthermore, access to a (0 comments)
About Me Nikitas Kouimanis The Loan Doctor Nikitas Kouimanis NMLS#9659 - 05/24/12 04:11 AM
I am a Mortgage Specialist NMLS # 9659 with 11 years of experience with great knowledge of all products in this industry. My goal has always been to make sure the loans I work on are the best fit for my clients. I have never and will never place a client in a program that doesn't fit their budget or lifestyle. I take great pride in my dedication to client satisfaction. I strive to develop a trusting, honest, long term relationship with my clients so much that, at the end, we are friends or even extended family. I am committed to (0 comments)
ABOUT US Sterling National Bank - 05/24/12 04:00 AM
We Make Home Financing SimpleAt Sterling, we know that choosing the right home loan is one of the most important financial decisions you will ever make. That is why you can count on us to provide exceptional guidance and ensure your mortgage closes quickly and smoothly. Our reputable foundation is built on a strong base of referral sources and repeat customers who return to us year after year, home after home. Find the mortgage that best fits your needs:
ABOUT US Since 1929, Sterling National Bank has successfully served the needs of businesses, professionals and individuals in the NY (0 comments)
Fixed Rate MortgagesWith a Fixed Rate Mortgage, you have the security of knowing your exact monthly payment. This type of loan locks in a set interest rate from the start, so monthly payments remain the same throughout the life of the loan. Budgeting becomes easier because changing market conditions will never cause your interest rate to rise. Adjustable Rate MortgagesAn Adjustable Rate Mortgage(ARM) is a loan in which the interest rate is adjusted periodically based on a preselected index. An ARM's low initial interest rate usually translates into lower monthly payments compared to most fixed rate mortgages. (0 comments)
Relatively Quiet and Modestly Weaker - 05/22/12 04:56 AM
MBS Afternoon Market SummaryBond markets continued the process of leveling off after hitting their strongest levels on 5/17. For MBS, those were all time highs, and for Treasuries, very close to historical lows (1.69 vs 1.67 previous 'modern economic history' low). We see pivot points for 10yr yields at 1.75, give or take a bp, and Fannie 3.5 MBS within a few ticks of 104-10. So today's weakness gets us generally back to those levels. In the big picture, the moves are consistent with the periodic profit-taking pauses seen during long term rallies. If, however, they cross back over the aforementioned (0 comments)
Mortgage Rates Rise Slightly From Friday's All-Time Lows - 05/22/12 04:50 AM
Mortgage Rates rose very slightlyfrom Friday's new all-time lows. There were no major market moving events for interest rates today. Instead, we seem to be seeing a sort of 'leveling off' with last Thursday as the low point in terms of the broader bond market. Concerns over the European sovereign debt crisis continue to keep rates from moving too quickly in either direction, and are a major contributor in the low rates in general. 3.75% continues to hold the newly achieved status as "Best-Execution" for 30yr Fixed Conventional loans. That means that today's improvements were seen more in the form of decreased (0 comments)
Scheduled Fed Buying The Focal Point On Otherwise Data-Less Morning - 05/22/12 04:41 AM
With the passing of the 10:15-11:00am scheduled "Operation Twist" buying from the Fed, we now know why bond markets bothered to get out of bed today. That's actually an overstatement as there was in fact a decent amount of volume in the overnight session and into the domestic open, but the Fed buying has elicited the more notable surge in volume and price movement. Thus far, that movement has been positive for TSYs and MBS with Fannie 3.5's ticking back into the green following the Twist buying details. Confounding that assessment somewhat is the fact that stock markets look like they're (2 comments)
The Week Ahead: Light Data Calendar, Treasury Auctions, Holiday Weekend - 05/22/12 04:36 AM
The line-up of economic data in the week ahead is one of the lightest of the year. Monday is essentially data-free. The following two days of the week are focused on housing with Existing Home Sales on Tuesday and New Home Sales on Wednesday. Those same two days also kick off the Treasury Note auctions for the week though Tuesday's 2yr Notes are generally not moving markets these days.Wednesday's 5yr auction has more potential to affect MBS, but the result would have to be a pretty big surprise in one direction or another. The data shifts away from housing on Thursday (0 comments)
Slightly Bumpy Ride Late, But Important Level Holds - 05/20/12 01:05 PM
104-16 Turned out to be an important level for Fannie 3.5's today. There's more than the usual amount of content in the 'alerts and updates' section below if you're looking to get caught up on how it played out. Long story short, bond markets held up quite well on a Friday that mostly saw money flowing OUT of both sides of the market (i.e. equities and fixed-income both lower in price today). But even the late day volatility left the 104-16 technical level intact through 4pm. From now until MBS go out for the day, it's not out of the realm (0 comments)
Mortgage Rates Lower Still, But Progress Is Slow - 05/20/12 01:02 PM
Mortgage Rates marginally from yesterday's new all-time lows. Without any major scheduled events to digest, bond markets were left to their own devices and paid a decent amount of attention to a sell-off in stocks. When yields in the broader bond markets move lower, MBS (the "mortgage-backed securities" that most directly influence lenders' rates) tend to move lower in yield as well, allowing lenders to off lower costs, lower rates, or a combination of the two.With the recent move lower to a 3.75% Best-Execution level for 30yr Fixed Conventional loans, today's improvements were seen more in the form of decreased borrowing (0 comments)
Relatively Uneventful Despite Slight Weakness - 05/20/12 12:56 PM
As the trading day progresses, things are shaping up to be increasingly uneventful even though MBS are down 6/32nds. Reason being: everything has been well contained, and what little weakness we've seen has occurred in a rather orderly fashion and without major volume spikes. Bond markets are staying reasonably connected to stocks, given the lack of market-moving data and European headlines. In short, today looks like the "wind down" that we thought yesterday might have been. We're not completely out of the woods as far as potential volatility is concerned. But as far as coasting into the weekend with minimal losses, (0 comments)
The Day Ahead: Markets Free To "Trade It Out" Amid Data-Free Session - 05/20/12 12:52 PM
With so many unprecedented and hefty considerations, markets might enjoy today's complete absence of scheduled economic data as some sort of chance to seek its own equilibrium. That sentence was actually lifted from an article we wrote in July 2011 when European drama was first beginning to collide with impending Fed policy changes. The first four days of the week contained plenty of events informing both of those heavy hitters and markets attempted to reconcile those versus the decreasingly significant scheduled econ calendar. Back then, we thought that the data-less Friday looked like a decent opportunity for markets to "trade (0 comments)
Snowball Buying As Fedspectations Team Up With Euro-Drama - 05/20/12 12:42 PM
Two of our favorite made-up terms joined forces today to carry MBS to yet another all-time high and 10yr yields to the high 1.6's! The day looked as if it would be a deceleration in terms of volume and volatility this morning, but we turned out to be quite wrong about that, although rates moved in the right direction for MBS watchers. The culprits were overnight headlines in Europe that noted a similar "run on the bank" going on in Spain as the one just seen in Greece. Even if the news and events themselves weren't responsible for subsequent all-time lows (0 comments)
Mortgage Rates Officially Hit New All-Time Lows! - 05/20/12 12:36 PM
Mortgage Rates hit new all-time lows today. In most cases, lenders' offerings are just slightly better across the board than they were in late January, the last time we officially noted "new all-time lows," though some lenders are not quite back to their previous best levels. A much weaker-than-expected reading on a widely followed report on business conditions in the mid-Atlantic region gave rates markets a bit of an early jolt lower. From there, an absence of additional data gave way to technical momentum, helping rates even lower.Markets are facing tremendous uncertainty over the eventual outcome of Greek elections in June (0 comments)
More Gains On Philly Fed Miss - 05/20/12 12:12 PM
The main market-mover of the morning was the release of the Philadelphia Fed Survey, the chief component of which fell from 8.5 last month to -5.8 today. This happens occasionally with regional manufacturing reports and particularly, we're reminded of the August Philly Fed Index that fell to -22 from a +6.2 in July. Although that instance constituted a bigger discrepancy, today's is arguably as much of a surprise considering the recent relative stability of the data (or even "uptrend" with the exception of last month's minor pull-back). Amazingly, it kicked off the biggest hour of volume of the week by a (0 comments)
The Day Ahead: Calendar Lightens Up Before Data-Less Friday - 05/20/12 12:05 PM
If the calendar of upcoming events and y'day's volume are any indication, it's possible that Wednesday was the climactic final scene before the intermission. Volume ramped up steadily on the first three days of the week, hitting it's best levels since mid-March. 10yr Treasuries hit their best levels since October, stocks their lowest since January, and MBS hit all-time highs yet again (and took down a big chunk of originator production in the process).All "that" seemed to come to a head with today's FOMC minutes and obligatory Greek headline(s). On the surface, tomorrow looks much calmer by comparison. Apart from the (0 comments)
Another Logical Day Of Record Highs - 05/18/12 05:04 AM
We characterized yesterday logical and well contained" with the benefit of some hindsight. While today's session wasn't "well contained," it was rather logical in that it went where you'd expect it to go given the events. Merkel surprisingly supportive of Greece remaining in the Euro-zone? Bond markets selling = logical. ECB wires saying certain MoPo operation with certain Greek banks is on hold? Bond markets bouncing back = logical. FOMC Minutes from a meeting that took place BEFORE the recent round of Euro-drama ramped up showing no incrementally hawkish viewpoints? Bond markets inferring Fed must be that much more willing to (0 comments)
Mortgage Rates Steady At All-Time Lows Thanks To Europe And The Fed - 05/18/12 04:59 AM
Mortgage Rates are steady to slightly improved today following as Europe's fiscal woes continue providing downward pressure on US interest rates. The forces at work keeping rates low were joined today by "minutes" from the most recent FOMC meeting. All told, several notable lenders are offering their all-time lowest interest rates while others remain close. Markets actually got off to a shaky start as far as rates were concerned. Had it not been for the European headlines and the FOMC Minutes, we'd likely be looking at slightly higher rates today. Mortgage-backed-securities (aka "MBS," the most direct influence on mortgage rates) and (0 comments)
After Merkel-Speak Soothes, Draghi Speaks Sooth - 05/18/12 04:54 AM
The main market-mover this morning was a CNBC interview with Angela Merkel. In it, the German chancellor offered an increasingly supportive tone on Greece remaining in the Euro-zone, saying that Germany would be open to Greece seeking additional stimulus. This was a net-negative for bond markets and generally soothed broader markets, though Treasuries and MBS maintained supportive ledges. Moments ago, news hit that the ECB would be stopping some monetary policy operations to some Greek banks. This follows earlier statements from ECB President Mario Draghi that point to a line in the sand that the ECB will not cross in order (0 comments)
The Day Ahead: Moderate Morning Econ With Fed Minutes In The PM - 05/18/12 04:49 AM
Wednesday looks to be a different animal than Tuesday's rather logical and well-contained session. Yesterday boasted one of the highest concentrations of economic data in recent memory, and while none of it was of earth-shattering importance, markets barely registered a response to the best of it. In other words, Greece and the Eurozone got the nod as market-movers while the boat-load of domestic economic data got obligatorily mentioned, but little traded. Back in the real world, markets generally traded two things, or rather, they traded two sides of one thing--namely: Greece's ability to repay its debts. Case in point, when Greece (0 comments)
Mortgage Rates paused their recent trend of moderate improvement today to hold steady near all-time lows. Despite an abundance of domestic economic data out this morning, rates continue to be indirectly fueled by political and economic turmoil in the Euro-zone.
After failing to form a new government, Greece today announced it would hold new elections. Investors fear that those left in power will lead Greece to back-out of the austerity pledges required by the EU and IMF for recent bailout monies as well as Greece's membership in the EU.
If Greece stops receiving that (1 comments)
Busy Morning For Data, But Greece Rules - 05/16/12 05:19 AM
Fewer mornings this year have been busier from an economic data standpoint, and that fact will be apparent in the recap of the 'live updates' below. But European concerns--particularly those related to Greece--trump any domestic data. This isn't to say that markets didn't react to some of this morning's econ. There was, in fact, detectable volume and movement following the 8:30am data, but it was soon replaced and out-done by news that Greece is going to elections after failing a last-ditch effort to form a government earlier today. Although the news doesn't come as a surprise, the "confirmation" served as a (0 comments)
The Day Ahead: Packed Econ Calendar Versus Ongoing Greek Drama - 05/16/12 04:49 AM
Today's data includes Retail Sales, The Consumer Price Index, and The Empire State Manufacturing survey... And that's just the 8:30am time slot! Treasury International Capital (TIC - or the tally of foreign holdings of US debt) hits at 9AM, FOMC voter Duke speaks on the housing recovery at 9:30am, Business Inventories hit at 10am, joined by The NAHB Housing Market Index in the same time slot.That's quite a bit of data and some traditional market-movers to boot. Back in the old days, Tuesday's line up would have been somewhat exciting. Market analysts for various websites might even have spoken about it (0 comments)
Data-Less Day Spent Range-Trading Europe - 05/15/12 03:42 AM
Put another hash mark on the wall in the "uneventful, sideways trading day atall-time highs for MBS" column. With nothing on the calendar to offer any guidance, markets were left to their favorite past-time of late: trying to guess whether or not Greece will back out of austerity agreements and how long it would take from there for it to default and exit the EU. Such possibilities have been good for German debt which hit another record low today at 1.43+ on the 10yr Bund. US debt basks in some of that "flight-to-safety" sun with domestic 10yr Treasuries spending the day (0 comments)
Mortgage Rates Match All-Time Lows; "Wall" Begins Cracking - 05/15/12 03:29 AM
Mortgage Rates continued a recent trend of moderate improvement fueled indirectly by political turmoil in Europe. The gains bring rates in line with all-time lows with some lenders priced slightly better and some priced slightly worse than than February's record offerings. The current rate environment is causing the longstanding "wall" at 3.875% to begin to crack. The Conventional 30yr FixedBest-Execution Rate is, for the first time since February,edging down to straddle 3.75% and 3.875%. Some lenders' rate sheets are structured such that 3.75% is clearly Best-Execution, though a majority remain at 3.875%. But even among those lenders, 3.75% is an increasingly (2 comments)
Still Stuck To The Ceiling. Still Waiting on Greece - 05/15/12 03:20 AM
Fundamentally, little has changed over the weekend or this morning as markets continue flying holding patterns, waiting for any information that informs the Greece situation. 10yr yields are as low as they've been since late September 2011 and Fannie 3.5 MBS are at all-time highs. But while the strong levels in Treasuries represent incremental improvements from last week's trading, the highs in MBS are the same highs seen on 3 of the 5 trading sessions last week. Production MBS are continually pushed into this ceiling around 104-10 in Fannie 3.5's, and further pushing is just making a stickier mess as opposed (0 comments)
Week Ends With Light Volume At Highs - 05/13/12 05:08 AM
Volume was fairly light today for MBS and Treasuries alike. Both were more keen to take the casual observer role as European markets and equities underwent the bigger gyrations. German Bunds hit another record low yield and US Treasuries continued to move in the same direction as Bunds, but on a much smaller scale. Overall, the Europe-induced nausea--apart from being one of the main reasons yields are low in the first place--was also good enough to help Treasuries not bat much of an eyelash at a relatively major correction in stocks. S&P's moved up over 15 points in the first few (0 comments)
Mortgage Rates improved moderately today as European turmoil continues to benefit domestic interest rates. Yesterday's late news of a $2 bln trading loss at JP Morgan also contributed to the overnight gains in broader bond markets, but it has been lingering uncertainty about the European situation that allows rates markets to hold steady at lower levels. Many lenders are back in line with some of their lowest rate sheets ever, though none are noticeably better.
The Conventional 30yr Fixed Best-Execution Rate is well-established at 3.875% and some of the most aggressive lenders in the marketplace may be able to (0 comments)
The Day Ahead: Producer Prices, Consumer Confidence, and Europe - 05/13/12 04:33 AM
The pace of data and events slows down appreciably today as the Treasury Auction cycle, MBS settlement, and most of the week's economic data is behind us. That said, there are a few reports this morning and markets naturally remain susceptible to each and every European headline concerning Greece and Spain. To that end, we have the expected announcement by Spain on measures to clean up its banking sector.<http://www.reuters.com/article/2012/05/11/us-spain-banks-idUSBRE8491LI20120511> Details are already coming out on this and the market reaction so far would seem to suggest a relative lack of importance. But we'll be the first to admit that it's hard (0 comments)
Busiest Calendar Day Proves To Be Calm and Logical - 05/13/12 04:27 AM
After days and days watching MBS get ground into the ceiling at all-time highs despite falling Treasury yields, MBS finally had their chance to hold their ground for a minor correction higher in benchmark yields. When the dust settled, they had done just that! Treasuries were weaker overnight and into the NY open as European markets pulled back from the brink of further flights-to-safety after German Bunds bounced precisely on yesterday's low yields. Treasuries didn't follow Bunds much for that dip overnight as there was a 30yr Auction Concession to be done! Passing over the morning data without much notice, bond (0 comments)
Mortgage Rates Still Low, Still Struggling To Go Any Lower - 05/13/12 04:17 AM
Mortgage Rates weregenerally unchanged today, keeping them near their recent andall-time lows. Lately, mortgage rates have been holding increasingly steady despite fluctuations in US Treasuries. That's mostly been a frustration for rate watchers who've seen Treasuries creep lower while mortgage rates have not. But the tables turned today as Treasuries moved back in the other direction while the underlying MBS markets ("mortgage backed securities" which most directly influence mortgage rates) held relatively steady. This keeps the Conventional 30yr FixedBest-Execution Rate at 3.875% (read more about Best-Execution calculations). Some of the most aggressive lenders in the marketplace are getting close to offering (2 comments)
Narrow Trading Range Potentially Part of Bullish Trend - 05/13/12 04:08 AM
We don't say the following in an attempt to be funny, but markets are flat again. It feels like we continue to be victimized by the same joke. It's somewhat understandable from an MBS perspective as we're in the midst of monthly settlements for Fannie and Freddie 30yr's, but what is Treasuries' excuse? The truth is that they're not quite as flat as they appear to be, simply that most of the change came during the overnight session with yields holding between 1.88 and 1.91 in the domestic session. Looked at from a horizontal perspective, this is sort of an indecisive (0 comments)
The Day Ahead: First Major Econ Data of the Week, Last Treasury Auction - 05/13/12 03:56 AM
History was made on Wednesday as the US Treasury assigned it's first ever 1.75% coupon to a 10yr Treasury auction. That's more of a piece of water-cooler trivia than anything as it simply means that 1.75% was the next lowest eighth of a point from the auction's stopping yield of 1.855%. Did you know: it's called the "stopping" yield or "the stop," because Treasury accepts bids at the lowest yields first (naturally, they want to pay the lowest amount of interest that investors are willing to accept), thus the auction must necessarily "stop" when the highest yielding bid(s) finally soak up (0 comments)
An "Inside Day" At All-Time Highs - 05/10/12 04:32 AM
This may be the last time we get to say this for a while but MBS--particularly Fannie 3.5's--just traded an "inside day," meaning today's highs were lower than yesterday's and today's lows were higher than yesterdays. Inside days aren't extremely common in the first place, but even less so when prices hit all-time highs. Yet we've seen it happen TWICE THIS WEEK. If that's not a profound commentary on MBS having run out of "room to run higher," we're not sure what is... That said, we do feel like a hypothetical post-roll (30yr Fixed Fannie/Freddie roll tomorrow afternoon) environment that draws (0 comments)
Mortgage Rates Hold Steady Amid Market Volatility - 05/10/12 04:27 AM
Mortgages rates heldsteady for the most part today, despite relatively volatile movements in underlying markets. Actually, the bond markets of which mortgage rates are a part, were not nearly as volatile as stock markets, although both sides were keen to react to European headlines more so than today's anticipated event, the 10yr Treasury Auction. The moderate amount of movement left most lenders very close to yesterday's offerings. Best-Execution for 30yr Fixed Conventional Loans remains at 3.875% with some lenders slightly increasing the borrowing costs at that right while many others had slightly decreased costs. The net effect left our computed average (0 comments)
Stock-Lever-Inspired Weakness After Strong Opening Levels - 05/10/12 04:22 AM
MBS and Treasuries both opened up at strong levels, the former at all-time highs, and the latter at the lowest yields since 1/31/12. It's also worth noting that those 1/31 yields were an outlying dip, and were as low as 10yr yields have been since early October 2011. We hit 1.794 today vs 1.792 in January. Today's ebbs and flows are clearly linked to the broad notion of "risk," particularly as it relates to Europe. Case in point, when a Greek political leader from the far right was out around 10:30am New York time saying that there would not be enough (0 comments)
The Day Ahead: Data Remains Light, But Auction is Worth Tuning in For - 05/10/12 04:13 AM
Tuesday wasn't a good day to be MBS, at least not compared to Treasuries. We began the session with less by way of overnight improvements, gained less into the morning rally, and gave back more into the afternoon sell-off. Short shrift all the way around... Better performances would require more liquidity in 3.0 coupons and it's hard to drum up liquidity and participation in 3.0's 2 days ahead of the roll. Heck, it's hard to drum up liquidity there, period.One thing that's not hard, apparently, is for the star of the family (10yr Treasuries) to march calmly and purposefully straight back (0 comments)
MBS RECAP: Continuing To Lag Badly Behind Treasuries - 05/10/12 04:08 AM
In the intermediate term (about a month, perhaps), MBS have been utterly and completely outperformed by Treasuries. It looks like utter and complete carnage until you zoom out to a 9 month view, and even that looks like a slow stroll in the park compared to late 2008 spreads. The good news is that we're at a bit of a pivot point in terms of spreads which could help MBS link back up with Treasuries. The bad news is perhaps more important, in that a decent bout of spread-tightening at this point seems contingent on Treasury weakness. Given that 10yr yields (0 comments)
Mortgage Rates Continue Grinding Into Historically Low Territory - 05/10/12 03:59 AM
Mortgages rates wereable to scrape together some minor improvements today but continue to have an exceedingly tough time keeping pace with the rest of the interest rate world. Slow-going gains aside, rates are still chipping away at some of their best levels of all-time. We're now getting into territory where only a few days in history have seen more aggressive rate sheet offerings. The Conventional 30yr Fixed Best-Execution Rate remains unchanged unchanged at 3.875%. But we're starting to see some softening of the buydown costs to move to 3.75%, but this varies greatly from lender to lender. In other words, the (0 comments)
MBS MID-DAY: Medium-Scale Snowball Rally - 05/10/12 03:52 AM
New All Time Highs For MBS!!!! Wait... It's sort of anti-climactic really. Rate sheets aren't much better than they were on Friday (in some notable cases, they're worse?!) and benchmark Treasuries continue to forge lower in yield thanks to snowball buying (short-covering in Treasuries and Stock lever). All of the above finds 10yr yields testing the 1.83% technical level. Unlike most 11am examples of "post-Fed-Twist-buying" bounces, this one isn't shooting immediately higher in yield. Maybe we're finally getting some more sincere reaction to Friday's NFP and Euro-election results as well? Volume is definitely higher today than yesterday, indicating some level of (0 comments)
The Day Ahead: Superficially More Active, But Wednesday Will Be Better - 05/10/12 03:44 AM
Diligent readers of this commentary might ask themselves: "I wonder if those guys know how much FLAT, DEAD, BORING, and SIDEWAYS has been in the commentary recently." Indeed we do dear reader. Indeed we do... And so it is with more than a little bit of resignation that we regret to inform you that YET ANOTHER FLAT, DEAD, BORING, and SIDEWAYS trading session is now drifting inconsequentially further away in the rearview.Monday was one of the slowest days of the year. A slow day was not entirely unexpected, but the magnitude of the slowness was--if nothing else--a bit odd considering that (0 comments)
MBS RECAP: Week Begins Slowly, But in Strong Territory - 05/08/12 03:32 AM
Monday turned out to be a non-starter as MBS and Treasuries spent another day doing their favorite activities. For MBS, that's been "holding inside a 4-6 tick range," while Treasuries see it as "inside a 2bp range." In addition to simply being flat on the day, each market was also flat with respect to Friday's trading. To illustrate this point, see the following charts with Friday's movement on the left followed by today's on the right.3:44PM : ECON: Consumer Credit Expands Most Since November 2011* Consumer Credit up $21.36 bln vs $9.8 bln Consensus* Previous month revised to $9.27 bln* Largest (0 comments)
Mortgage Rates Hold Gains Following Jobs Report - 05/08/12 03:29 AM
Mortgages rates continue to operate at their best levels since early February following Friday's weaker-than-expected Employment Situation report. There was effectively no change in most lenders' rate sheet offerings versus Friday morning's rates. Even last week, there were no dramatic movements into the Employment Report, but more of a steady march toward historical lows.This naturally leaves the 30yr Fixed Conventional Best-Execution Rate unchanged at 3.875%. With the Jobs Report behind us, there's less by way of big-ticket "risky events" in the near future. Economic data in the current week is limited although Treasury coupon auctions (3, 10, and 30yr maturities) will (0 comments)
MBS MID-DAY: Best Levels Into Scheduled Fed Buying - 05/08/12 03:24 AM
Without anything else on the calendar and the more significant European-election-inspired convulsions more of an overnight thing, the majority of the morning's movement seems attributable to the scheduled Fed "Twist" buying from 10:15 to 11:00am. MBS and Treasuries hit their best levels during that time and now their outlook in the immediate future is somewhat unclear. The Consumer Credit release is coming up at Noon, and although it's not traditionally a significant market mover, it could register some response owing to the dearth of alternative (read: more meaningful) guidance. 9:56AM : ALERT ISSUED: Bond Markets Hold Slightly Improved Levels After EU (0 comments)
The Week Ahead: Light Data Calendar Leaves Auctions/FOMC in Focus - 05/08/12 03:19 AM
This week's data calendar is exceptionally light with the exception of Fed speakers and a round of Treasury Auctions. The Fed-speak could prove somewhat more interesting than normal given that "to QE3 or not to QE3" is more dependent on economic data than it had been previously.Perhaps then, some FOMC members will see fit to share their stance on how last week's lackluster Non-Farm Payrolls print might affect the QE3 outlook. We're not expecting much more than the generic stuff that made the rounds last week, but perhaps we'll see a small increase in the level of concern.The other key data (1 comments)
MBS RECAP: Prices Hold Steady After Morning Sell-Off - 05/02/12 04:34 AM
The closer and closer we get to 5pm, the more it seems that this morning's ISM-inspired sell-off will simply be an "adjustment" that exchanges the previous narrow, sideways range, for another. Specifically, we notes the narrow range between 103-26 and 103-28 yesterday. Then, after this morning's sell-off, Fannie 3.5 MBS hit 103-22, and although there have been a few brief tests on the low side of that range, prices have held within 103-22 and 103-24 for the rest of the day. This is somewhat comforting considering that further weakness seemed at risk as we approached 3pm, and reinforces the constant theme (0 comments)
Mortgage Rates Rise Modestly After Strong Manufacturing Report - 05/02/12 04:27 AM
Just before reaching fresh multi-month lows,Mortgages Rates rose slightly today after a stronger than expected read on the manufacturing sector. Overall, rates continue to operate at the same "best-execution" level of 3.875% and today's deterioration would instead be seen in the form of slightly higher borrowing costs (or decreased lender credit toward closing costs, depending on your scenario). Keep in mind that "best-execution" as we calculate it, connotes the no-closing-cost rate for the best-qualified borrowers in the most ideal scenario. (read more about Best-Execution calculations). For many scenarios, 4.0% continues to constitute a good bang for the buck. Whatever (0 comments)
Other than the sheer lack of volume/participation, Monday's most notable feature turned out to be Chicago's ISM numbers. The drop from 62.2 last month to 56.2 is a sizable chunk and you'll see it in the chart below, yet markets didn't really respond, at least not yet. There are two interesting considerations here. On the one hand, Chicago PMI is historically fairly well correlated with the National numbers due out today at 10am. Here's a chart of both of them, updated to include yesterday's Chicago PMI, naturally suggesting that the 53.0 (0 comments)
MBS MID-DAY: A Turn For The Worse After ISM Data - 05/02/12 04:13 AM
Following yesterday's weaker-than-expected Chicago PMI report, markets were geared up for a similarly disappointing national figures in today's ISM Manufacturing Report. Even then, there seemed to be some hesitation to rally too much yesterday, given the stronger employment component of Chicago PMI on a week that concludes with a hugely important Employment report. But not only was the employment component of today's ISM report higher than last time, but the headline PMI ("purchasing management index") surprised to the upside as well, sending a relative shockwave through both equities and bond markets. The key word here is "relative," as the weakness isn't (0 comments)
Mortgage Rates Edge Closer To All-Time Lows - 05/02/12 04:07 AM
Mortgages Rates are moderately improved to begin the week, taking them slightly lower than than April's best two days (4/10 and 4/23) and as close as they've been to all-time lows in several months. This further solidifies the Conventional 30yr Fixed Best-Execution Rate at 3.875%, which had recently shared the stage with 4.0%. Keep in mind that "best-execution" as we calculate it, connotes the no-closing-cost rate for the best-qualified borrowers in the most ideal scenario. (read more about Best-Execution calculations). If your scenario is something less than flawless, and you were looking at a 4.0% rate on Friday, there's a chance (2 comments)
MBS RECAP: Late Day Weakness Preserves The Range - 05/02/12 03:59 AM
MBS and Treasuries looked like they might have been drifting into slightly better territory in the first part of the afternoon. But heading into the 3pm Treasury close, bond markets weakened somewhat, depositing Treasuries (with the exception of 30yr bonds, which got hit a bit harder) right at their earlier morning support levels (mid 1.92's) and MBS in the same old 2 tick range they'd held all day. We saw a few brief ticks at 103-24, but 90% of today's action was 103-26 to 103-28. That's really splitting hairs though... a 4 tick range is as narrow as they come in (0 comments)
MBS MID-DAY: Slow Start, But Positive - 05/02/12 03:54 AM
MBS are 3 ticks higher this morning in Fannie 3.5 coupons at 103-26, a mere eighth of a point off 4/10 highs. That said, the current range is the highest that production MBS have stably been, not to mention the fact that this jaunt is already more stable than previous visits. The only other scheduled economic data of the morning arrives in about 20 minutes with Chicago PMI. It's not normally a tremendous market mover, but its impact could be more noticeable today due to light volume. 8:38AM : ECON: Incomes Accelerate, Spending Decelerates, Inflation Tame * Income +0.4 pct vs (0 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.