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State Name: New Jersey
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State Abbreviation: NJ
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  • Tuesday 10/28 ... Consumer Confidence at Record Low

    by Matthew Graham on October 28 2008, 11:34 AM
    This morning we had the release of Consumer Confidence. This report is a gauge on how the consumer feels about our current economic conditions and their expectations for the future. No big surprise that this report came in at a record low reading of 38...
  • Wednesday 10/29 ... Fed Day!!!!!

    by Matthew Graham on October 29 2008, 9:57 AM
    Today we had the release of durable goods orders which came in stronger then expected. Usually, when we get stronger then expected economic news, it is bad for mortgage backed securities. Not this morning, but then again, not much is acting in the normal...
  • Thursday 10/30 ... Reports are In

    by Matthew Graham on October 30 2008, 9:25 AM
    Today brought us a couple economic reports. First the Gross Domestic product, economists where expecting a -.5% but the number came in stronger at -.3%. This is the first negative reading for GDP since quarter 4 of 2007. We also got the release of jobless...
  • Friday 10/31 ...Boo!!!!

    by Matthew Graham on October 31 2008, 10:13 AM
    Today brings us an action packed day for economic reports. So far this morning, mortgage backed securities are liking what they see and we are getting a good move up in price, thus lower in rates on mortgages. The day is still early and usually Friday's...
  • Monday 11/3 ... Preview of Upcoming Week

    by Matthew Graham on November 03 2008, 8:54 AM
    This week brings us several big economic reports with the biggest ones being released on Friday. Today we get the release of 2 reports: 1. The ISM Index, which is a survey of purchasing managers and is seen as the best indicator of the condition of the...
  • Wednesday 11/5 ... Obama Wins Election

    by Matthew Graham on November 05 2008, 10:20 AM
    As most will know Obama has won the presidential election and will become our country's 44th President. Mortgage backed securities have been in rally mode. Yesterday in the face of a big stock market rally, mbs improved around 100 basis points, dropping...
  • Thursday 11/6 ... Jobless Claims in

    by Matthew Graham on November 06 2008, 10:25 AM
    Today we got the release of 2 economic reports and key interest rate cuts from across the pond. Jobless claims came in pretty much right on expectations at a 481,000 level after last months 478,000. Continuing claims still remain at the highest level...
  • Friday 11/7 … Jobs Reports are In

    by Matthew Graham on November 07 2008, 9:24 AM
    Today, the labor department released the jobs and unemployment numbers and they were disappointing. Economist's where expecting a loss of 200,000 jobs, but the numbers came in at a loss of 250,000 jobs. To make matters even worse, the prior 2 months...
  • Monday 11/10…Look at the Week Ahead

    by Matthew Graham on November 10 2008, 9:09 AM
    This week will be slow as far as economic reports. The only relevant reports will be released on Thursday and Friday. Thursday we will get the weekly release of jobless claims which are expected to show 480,000 claims and we also get the balance of trade...
  • Tuesday 11/11 … Veteran's Day

    by Matthew Graham on November 11 2008, 8:49 AM
    We wish to pass on our most sincere thanks to all veterans of our great military, if not for you we would not have the freedoms we enjoy today. Today the bond markets are closed in honor of Veteran's Day and no economic reports will be released. Yesterday...
  • Wednesday 11/12 … Morning Update

    by Matthew Graham on November 12 2008, 9:45 AM
    The mortgage backed security market opened this morning in positive territory. We get no economic reports today but we will have another treasury auction of 10yr notes at 1pm est. The added supply of debt on the market could hinder any significant upside...
  • Thursday 11/13 … Economic Data In

    by Matthew Graham on November 13 2008, 9:15 AM
    This morning the labor department released jobless claims and it wasn't pretty. First time jobless claims rose from 484,000 last week to 516,000 which is well above economist's expectations of 482,000. The continuing claims came in at 3.9 million...
  • Friday 11/14 … Retail Sales Numbers Are In…

    by Matthew Graham on November 14 2008, 9:51 AM
    This morning we got the release of the monthly retail sales figures and they were disappointing, but I am sure this isn't a shock to anyone. Economists were expecting a -2.1% drop but the actual number came in at -2.8%. When excluding auto sales,...
  • Monday 11/17 … Weekly Update

    by Matthew Graham on November 17 2008, 10:02 AM
    This week is full of economic data that historically moves the mortgage backed security market. So far this morning, mbs are basically unchanged from close on Friday and appear to have found a small trading range with very little action. We are still...
  • Tuesday 11/18 …Data is in

    by Victor Burek on November 19 2008, 4:06 PM
    Today we got the release of inflation data in the form of the producer price index and they came with mixed results. The overall reading was much better then expected at a decline of 2.8% vs estimates of a 1.8% decline. This is a positive for mortgage...
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More From MND

Mortgage Rates:
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  • 15 Yr FRM 4.47%
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  • Jumbo 30 Year Fixed 4.42%
MBS Prices:
  • 30YR FNMA 4.5 102-08 (-0-04)
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  • 30YR FNMA 5.0 104-08 (-0-03)
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  • 30YR FNMA 5.5 105-25 (-0-04)
Recent Housing Data:
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  • Refinance Index -0.10%
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  • Purchase Index 0.12%