Nov 21, 2012 11:43AM

Lacker's Critique of Fed Policy; CFPB's Annual Report; Bank Auditors are People Too!

While you're dining on turkey and watching football tomorrow (maybe not in that order) remember this touching story . Folks continue to wonder about the Fed's program in buying and holding U.S. government securities AND agency mortgage-backed securities : issuing them from one department and buying them in another. I received this note: "I have to assume that the Fed is continuing to buy newly issued Treasury securities because otherwise the Treasury would now have to pay substantially higher rates...

Nov 21, 2012 2:01PM

Mortgage Rates All Over The Board Heading Into Holiday Break

Mortgage rates were all over the board today with some lenders improving noticeably and others pricing significantly weaker versus yesterday's marks. Much of this stratification has to do with late weakness on Tuesday which prompted many lenders to release negatively revised rate sheets near the end of the day. Perhaps equally important is the fact that lender pricing strategies can simply vary on days leading up to holiday closures. The net effect of the inconsistent movement turned out to leave...

Micro News

3:03 PM:

Limited Activity; MBS At Lows; Stubborn But Low Reprice Risk

11:43 AM:

Shaking Off Some Weakness Following TIPS Auction

10:50 AM:

ECON: Consumer Sentiment Slightly Lower Than Expected

10:04 AM:

MBS Risk Running Into Ceiling At Yesterday's Lows

9:07 AM:

ECON: Markit PMI Slightly Higher

8:41 AM:

ECON: Jobless Claims 410k, In Line With Expectations

3:09 PM:

One More Selling Spree? Reprice Risk Increases Yet Again

1:17 PM:

Stocks Slide, Bond Markets Dig Heels In, Risks Moderating

Around the Web

Video News

Pimco Expects U.S. Housing `Bright Spot' in 2013

Pre-Market Report: What You Need to Know

Bernanke Sounds of on Fiscal Cliff

Today's Comments

Ray J

"The majority of my closings are under 40 days, With clients who are 'on it' in terms of providing requested documents expeditiously, scheduling..."

Ira Holmes

"Is that the best loan for the borrower? TV$ says the 15yr loan will build equlty faster, but at a cost. If I can give the lender "cheaper dollars"..."

Paul DeSanctis

"This is great, although I was just blamed the other day for blaming people who blame others. I think this is the key. I was talking with a US Bank exec..."

Today's Q&A

"Can I get a mortgage loan if I am working for 1 year."

"Can i move things in my new home without paying rates"

"How to protect my resident the property is pending default?"