MORTGAGE BACKED SECURITIES FLAT
12/01/08 The 10 year Treasury yield has continued to fall. MBS are currently unchanged. When the Ten year is falling and the MBS are flat, that usually means we have hit a bottom for rates. There is a great deal of economic news on the horizon this week. I will try to update this afternoon.

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Mortgage bond prices rose last week pushing mortgage interest rates lower. Trading remained volatile as trading was thin amid the shortened holiday trading sessions. Mortgage bonds rallied nicely following the announcement that the Treasury and the Federal Reserve will spend $800 billion to help the ailing credit markets (details in article below).

For the week, interest rates on government and conventional loans fell by about 1.625 discount points.

The employment...

Government agrees to buy MBS
11/25/08 The government has agreed to buy over 500 Billion in Mortgage Backed Securities. This has sent interest rates down. I will try to post later.

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short week
11/24/08 Not much on the economic calender this week. The stock market will dictate the direction of Mortgage Backed Securities. The stock market is currently up and MBS are -12bps. That is the number most investors used to set their pricing. I will have an update later this afternoon.

Home Mortgage Loans and Refinance in Milwaukee and across Wisconsin - Wholesale Mortgage Services of WI

What a week
11/21/08 Mortgage Backed Securities are negative 18 basis points this morning. I have never seen such a week. The 10 year moved from 3.75 to 3.12 and the interest rates stayed the same. If you are floating and waiting for a rate, I would have my finger on the lock button. If we have a short covering rally today, interest rates will go up. I will update this page as the day unfolds.

UPDATE: As of 11:30 cst MBS are -34bp. This is going to cause rate changes
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