Austin Mortgage Market

As we have preached all week, defense is your friend, Austin mortgage borrowers, and the exclusive float down option from Max Leaman is a no brainer

Call the market neutral/bearish with good support nearby. As we have preached all week, defense is your friend, Austin mortgage borrowers, and the exclusive float down option from Max Leaman is a no brainer.

October 15, 2010|Austin Mortgage Market|

Overall, this 30 year bond auction was not a dog but a pack of them

13 billion of 30 year bonds just hit the tape. Yield 3.852% with a whopping 3.2 bps tail. Indirect Bidders and Direct Bidders took 41% of the auction, leaving the street to mop up nearly 60%. Bid to cover stunk at 2.47 to 1. Overall, this was not a dog but a pack of them. Give it a D just because we hate to fail anybody. Bonds, notes, and mortgage backs are trading fast market conditions with the 10 year off ½ point and the bond down over 1 point. MBS now off 5 to 7/32’s.

October 14, 2010|Austin Mortgage Market|

Austin mortgage borrowers: best to take a conservative approach given the amount of volatility we expect

Austin mortgage borrowers: best to take a conservative approach given the amount of volatility we expect.

October 14, 2010|Austin Mortgage Market|

We’ll give the 10 year note auction a B, not to hot, not to cold, but just right considering yesterday’s disaster

We’ll give the auction a B, not to hot, not to cold, but just right considering yesterday’s disaster and the tough hedging environment that fixed income investors are in today.

October 13, 2010|Austin Mortgage Market|

Best bet for Austin mortgage borrowers is to take a defensive posture

Best bet for Austin mortgage borrowers is to take a defensive posture. With so much bond-friendly news priced in, the risk reward for better mortgage pricing is just not there, folks.

October 13, 2010|Austin Mortgage Market|

Markets didn’t flinch on the FOMC minutes release, content on staying at the low end of today’s trade (highest yield/worse Austin mortgage levels)

Markets didn’t flinch on the FOMC minutes release, content on staying at the low end of today’s trade (highest yield/worse Austin mortgage levels).

October 12, 2010|Austin Mortgage Market|

Best bet for Austin mortgage borrowers: don’t take historic low Austin mortgage rates for granted

Currently, the best bet for Austin mortgage borrowers: don’t take historic low Austin mortgage rates for granted.

October 12, 2010|Austin Mortgage Market|

Tactical bias is to be flat going into tomorrow’s employment numbers, which is a good thing, especially given the fact that we are at historic low yields and Austin mortgage rates

Tactical bias is to be flat going into tomorrow’s number. That’s always a good thing, especially given the fact that we are at historic low yields and Austin mortgage rates.

October 7, 2010|Austin Mortgage Market|

Tomorrow will be “square up day” where trading is typically quiet before a big release like Friday’s Employment Report

Keep in mind that tomorrow will be “square up day” where trading is typically quiet before a big release like Friday’s Employment Report. More on that tomorrow.

October 6, 2010|Austin Mortgage Market|