Loan Biz Blog

Worsening Pricing - Finding a Bottom?
February 18th, 2010 2:12 PM

The selling of treasuries and mortgage backs has been relentless, continuing the slide as we head toward today’s close. Heavy selling by leveraged funds and mortgage hedgers has taken its toll on current coupon mortgages, currently down 17/32’s. 10 year note trading is no better, down 19/32’s to yield 3.81%. On the chart, trend intensity is has turned bearish and daily oscillators and firmly on the sell side. The low today touched the 40 day moving average and needs to hold into the close or further selling will be likely. Expecting a rally here of any magnitude is a lotto ticket so stay very defensive with your pipeline. Best we can hope for is a tame CPI (inflation) number in the morning to boot strap this thing back into the range. Hang in there.

With Permission & Courtesy of Scott S. Eggen
Senior Vice President – Capital Markets

For other rate lock advisory commentary please visit:
http://www.mrloanbiz.com/DailyRateAdvisory

Sam Cowen, NMLS ID#: 176693
Branch Manager, Lending in 47 States
PrimeLending | a PlainsCapital Company
2007 N Collins Blvd Ste 403 Richardson, TX 75080
Email: 888@MrLoanBiz.Com Web: www.MrLoanBiz.Com
Toll Free: (888)MR-LOAN-BIZ (888) 675-6262 Toll Free Fax: 866-908-2611

Posted by Sam Cowen on February 18th, 2010 2:12 PMPost a Comment (0)

Subscribe to this blog
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:


We lend in 47 States

Sam Cowen, NMLS ID#: 176693
Your Mortgage Professional, Lending in 50 States
2011 N Collins Blvd Ste 711 Richardson, TX 75080
Email: scowen@primelending.com Web: www.MrLoanBiz.Com
Toll Free: (888)MR-LOAN-BIZ (888) 675-6262 Toll Free Fax: 866-908-2611

 
In accordance with Section 326 of the USA PATRIOT Act of 2001, PrimeLending is required to obtain a copy of the documents used in identifying our new account customers. This notice is being provided to your for adequate notice given under this act. 

Please note that the information above is not intended to be any decision of, or commitment to, any loan type or amount of loan for which one may qualify with any financial institution. The information is not intended to extend any legal, tax, or financial advice. The accuracy of the information contained in this advertisement is not guaranteed. Please consult a loan professional to learn more about your eligibility for and availability of a particular loan product.

Click Here for our Privacy Policy

 

 

Cowen's Rates

Copyright © 2010 PrimeLending, A PlainsCapital Company, Branch (5627)
Portions Copyright © 2010 a la mode, inc.
Another XSite by a la mode, inc. | Terms of Use| Site Map



 
State:
County:
City:
Zip: