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jobs: Fed Intervention Fails to Close Mortgage Treasury Spread - 12/05/08 10:47 AM
In spite of an unprecedented move by the Federal Reserve on November 25th to purchase $600 billion in mortgage-related assets, the spread between mortgage and treasury rates remained at its highest level on record for the week ending December 4th, closing at 2.96%. Investors sought the safety of treasury securities in droves, increasing their prices, and depressing the yield of the 10-year treasury note to its lowest close ever at 2.57% this Thursday. In spite of rampant speculation that the Fed may be prepard to act again, mortgage securities found few buyers. Mortgage rates averaged 5.53%, according to Freddie Mac.
The … (6 comments)
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jobs: Rollercoaster updates; Radio Tomorrow! - 02/01/08 04:47 PM
Good evening!
I hope your week was as interesting as mine was. After taking all of last week off for vacation, there's nothing like coming back to the flu to get off to a good start. The market certainly made it worth hanging in and watching.
Earlier this week, I told you there was a whole calendar of economic data to contend with this week. Here's how things turned out:
Monday: New Home Sales ACTUAL: 604,000 / ESTIMATED: 645,000 = BADTuesday: Consumer Confidence A: 87.9 / E: 87.0 = GOOD / Durable Goods A: +5.2% / E: 2.0% = GOODWednesday: Gross Domestic … (3 comments)
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jobs: If you thought last week was a roller coaster. . . - 01/28/08 09:48 AM
The week of January 21, 2008 was one of the more exciting weeks I have seen on the market in quite some time, and that comes with being just a 4 business day week. Of course, most of us around here worked Monday, also; I didn't. I'd planned vacation for the entire week for more than a month.
By the end of the week, we'd seen a degree of volatility in the stock and interest rate markets that hadn't been seen in a long time. Here's a quick recap of some highlights:
Tuesday saw the Dow open down more than 3%, … (21 comments)
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Dan Hartman
Providence,
RI
More about me…
Province Mortgage Associates - (401) 263-8655
Address: 10 Davol Sq, Providence, RI, 02903
Office Phone: (401) 490-4400 x 114
Cell Phone: (401) 263-8655
Email Me
Dan Hartman's Blog about mortgages, real estate, and the economy in New England, and the United States, especially Rhode Island Rates, Connecticut Mortgages, Massachusetts Rate Locks, and New Hampshire Home Sales. Let Dan leverage his MBA in Finance and experience as a college professor for you!
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