Fri, Oct 16 2009, 10:00 AM
Citi, BofA, MGIC earnings; every mortgage banker's nightmare; Fed purchase update
Fri, Oct 16 2009, 8:20 AM
There is no reason to believe the Fed will raise rates anytime soon thus yields in the short end of the curve will remain in record low territory...th...
Fri, Oct 16 2009, 8:19 AM
US equities are looking to open lower after an earnings report from Bank of America missed the mark this morning. On the week the S&P 500 remains up 2...
Fri, Oct 16 2009, 5:01 PM
Fri, Oct 16 2009, 3:51 PM
Heading into the 5pm "HOLY COW THE DOW HIT 10,000" marking period (please note sarcasm), the FN 4.0 is +0-10 at 98-02 yielding 4.199% and the FN 4.5 i...
Fri, Oct 16 2009, 2:27 PM
Equities opened lower this morning following disappointing earnings results from Bank of America, and losses were extended 25 minutes into the session...
Fri, Oct 16 2009, 2:07 PM
Mortgage rates moved slightly higher yesterday but managed to weather the storm of better than expected economic data and earnings reports. Today, mo...
Fri, Oct 16 2009, 1:30 PM
Thu, Oct 15 2009, 12:33 PM
Jobless claims are down, inflation is benign, and manufacturing conditions were positive for the third straight month, but trading is jittery as inves...
Thu, Oct 15 2009, 10:46 AM
The FN 4.0 is trading -0-12 at 97-25 yielding 4.228 while the FN 4.5 is -0-09 at 100-19 yielding 4.429%.The secondary market current coupon is 4.349% ...
Thu, Oct 15 2009, 9:25 AM
2010 mortgage production estimates; interest rate conjecture; FHA changes; does your biz rely on the tax credit?
Thu, Oct 15 2009, 8:32 AM
MBS and Tsy's are understandably worse given the above raft of data that is generally economically bullish. The exception obviously would be in the in...
Thu, Oct 15 2009, 8:14 AM
Equity futures are retaining gains after yesterday’s 1.75% climb. The day ahead is full of new economic data and sentiment is generally higher as earn...
Thu, Oct 15 2009, 7:34 PM
Before you get too excited at the sight of 3.50% across the headlines of a mortgage website , you should know that Treasuries are the topic of our foc...
Thu, Oct 15 2009, 5:21 PM
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the four trading days between October 8 an...
Thu, Oct 15 2009, 4:15 PM
Lots of reason to believe the 10yr will be testing 3.50% tomorrow. All week the 10yr yield has has pushed higher and higher in the range. What's going...
Thu, Oct 15 2009, 3:57 PM
Local is one of the top three areas of online marketing that my clients ask me about, along with search engine optimization and social media marketing...
Thu, Oct 15 2009, 3:37 PM
Freddie Mac's Primary Mortgage Market Survey for the week ended October 15 was released on Thursday. The report showed all four mortgages tracked by ...
Thu, Oct 15 2009, 1:34 PM
The FN 4.0 is currently -0-11 at 97-26 yielding 4.2248% and the FN 4.5 is trading -0-11 at 100-17 yielding 4.4376%. The secondary market current coupo...
Thu, Oct 15 2009, 1:29 PM
The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as trade...
Wed, Oct 14 2009, 11:40 AM
The FN 4.0 is trading -0-10 at 98-12 yielding 4.1681% and the FN 4.5 is -0-07 at 100-30 yielding 4.387%. The secondary market current coupon is 4.299%...
Wed, Oct 14 2009, 11:27 AM
The Mortgage Bankers Association has issued an economic forecast that projects further increases in unemployment but continued low interest rates, hig...
Wed, Oct 14 2009, 9:30 AM
JP Morgan Chase Profits Exceed Expectations; Updates from GMAC, Wells, US Bank; Rates Rising
Wed, Oct 14 2009, 8:30 AM
September Retail Sales Data was just released...it was better than expected. The bond market, which was already weaker after JP Morgan earnings beat e...
Wed, Oct 14 2009, 8:11 AM
Demand for mortgage applications was unable to keep pace with the five-month peak reached in final week of September, according to the Mortgage Banker...
Wed, Oct 14 2009, 8:09 AM
With the dollar remaining weak, investors are finding other safe havens to store their money, which helped drive the price of oil past $75 for the fir...
Wed, Oct 14 2009, 6:20 PM
The FN 4.0 closed -0-17 at 98-04+ yielding 4.19% and the FN 4.5 closed -0-09+ at 100-28 yielding 4.397%. The secondary market current coupon is 4.313%...
Wed, Oct 14 2009, 2:31 PM
Plain and Simple: FOMC members have mixed outlooks on the residential real estate market and the proper exit from the Agency MBS Purchase Program. The...
Wed, Oct 14 2009, 1:42 PM
Reports from fellow mortgage professionals indicate that mortgage rates have moved higher into the 4.875% to 5.125% range for well qualified consumers...
Tue, Oct 13 2009, 12:44 PM
The House of Representatives has passed a bill that extends the first-time homebuyers tax credit for one year for military families and certain other ...
Tue, Oct 13 2009, 12:33 PM
Stocks are slipping, the dollar is down, and gold is at new highs. The Dow and S&P 500 closed at 12-month peaks on Monday but trading is skittish toda...
Tue, Oct 13 2009, 11:42 AM
Positive progress has been made all morning in the rates market, however as traders start to search for the lunch cart...stocks are heading higher and...
Tue, Oct 13 2009, 10:52 AM
The bond market was closed yesterday in observance of Columbus Day so mortgage backed securities did not trade. Regardless of that, several lenders is...
Tue, Oct 13 2009, 9:36 AM
Conference in San Diego continues; California adds several mortgage laws; Cubs declare bankruptcy
Tue, Oct 13 2009, 8:22 AM
The November FN 4.0 is trading +0-10 at 98-24 yielding 4.1307%. The November FN 4.5 is trading +0-09 at 101-06 yielding 4.3560%. The secondary market ...
Tue, Oct 13 2009, 8:21 AM
Tuesday morning begins on a light note but in the afternoon the Treasury releases its final budget statement for fiscal year 2009, and the third-quart...
Tue, Oct 13 2009, 5:16 PM
Over the summer we coined a new term based on the bouncy price action occurring in financial markets: CHOPATILITY. The lack of meaningful market direc...
Tue, Oct 13 2009, 4:13 PM
Heading into the 5pm "RATE SHEETS ARE UNCHANGED" marking period, rate sheet influential MBS coupons have given back a portion of their early afternoon...
Tue, Oct 13 2009, 2:54 PM
Rates rallied out the gate this morning. However, later in the day stocks began to recover losses and benchmark TSY and "rate sheet influential" MBS c...
Mon, Oct 12 2009, 12:19 PM
The bond market is closed in observance of Columbus Day. While mortgage-backed securities are not being traded today, several lenders have published r...
Mon, Oct 12 2009, 9:06 AM
October 12: News from BofA, Freddie, Flagstar; markets are like rubber bands, remember?
Mon, Oct 12 2009, 8:30 AM
Last week the S&P 500 added 4.5%, gold hit a record high, and the US dollar tested new lows for the year. So much for a turning point. This week begin...
Mon, Oct 12 2009, 4:38 PM
Markets opened higher on Monday and appeared steady throughout the morning, with all three indexes hitting intraday highs for the year. But at 2pm inv...
Fri, Oct 9 2009, 12:00 PM
Following a somewhat disappointing 30 year bond auction yesterday, prices of mortgage backed securities plummeted and mortgage rates moved higher as l...
Fri, Oct 9 2009, 10:14 AM
The FN 4.5 just made a new intraday low as the 10yr ticked over 3.32. The rate sheets we have seen were already noticeably worse than yesterday, howev...
Fri, Oct 9 2009, 8:38 AM
# After open weaker, MBS and tsy's are slightly improved AM
# Should clarify for tsy's "improved" only vs. overnight and early AM session. unchanged...
Fri, Oct 9 2009, 8:12 AM
President Barack Obama won the Nobel Peace Prize this morning. The 44th president is the third sitting president to receive the honor but the first to...
Fri, Oct 9 2009, 7:13 PM
As you can imagine – a lot of people ask me how I got my site to #1 on Google for a term like ‘mortgage brokers’ not to mention thousands of other hig...
Fri, Oct 9 2009, 4:47 PM
AHHHH....the FN 4.5 fell off the map at the end of the day!!!!HAHA...this joke never gets old. DONT PANIC. TODAY IS NOTIFICATION DAY (dont panic about...
Fri, Oct 9 2009, 4:28 PM
After slipping for two weeks, equities opened the fourth quarter with the best week over week rally since July.
The Dow closed above the 12-month h...
