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mortgage rates: Hear the whistle blowin'...how will the Fed's exit affect you? - 03/31/10 03:34 PM
Today...the Federal Reserve exits the train station and ends their 15 month long buying spree of mortgage backed securities (MBS).  This purchase program helped bring some stability to the housing market since its inception in January 2009.
Looking back to late 2008, mortgage rates were in the 6.5% range and housing was on a fast downward spiral.  The government wanted to bring rates lower to stimulate housing, thus making it cheaper to buy or refinance homes.  In order to bring rates down, there has to be an appetite for buying MBS.  At that time very few investors were buying MBS, so the … (1 comments)

mortgage rates: Mortgage Bonds Bust a Move... - 07/08/09 04:13 PM
Mortgage Backed Securities (MBS) are moving again!  Over the past several days, MBS have been improving as stocks continue their struggle.  Today's bond auction was well received which has helped fuel a beautiful rally today, giving Bonds the needed momentum to break above some tough overhead resistance.  The past few days gains have brought rates back...well, almost back...to the levels of one month ago.  
Rumors of a 2nd stimulus plan hit the wires just days ago and the chatter continues.  The first stimulus plan was aimed at Banks, Automakers, City and State governments.  New reports indicate that it also put more … (0 comments)

mortgage rates: What? Bonds Hear "Inflation"? - 01/23/09 09:46 AM
This morning, the entire Bond market, including Mortgage Bonds, are contending with the "I" word...inflation.   It may sounds a bit odd, however the traders in the pits have recently been talking about Obama's stimulus and rescue packages and the reemergence of inflation should they have a positive effect on the economy. 
To add to the trader chatter, this morning Fed member Frederic Mishkin was on CNBC saying that "inflation could come to the forefront given all of the government programs".  He went on to say that "once the economy recovers, liquidity must be taken out of the markets" - this means the … (0 comments)

mortgage rates: Bonds Hanging In Mid-Air - 01/21/09 09:21 AM
Yesterday, the stock market dropped sharply with its worst-ever performance on an Inauguration Day.  More often than not, the stock market has declined as a new presidential term is greeted.
What may be surprising to some is that the Bonds didn't benefit.  Trading was thin as Washington was essentially shut down and our Fed wasn't buying Bonds.  Seems everyone tuned into the Inauguration.  This thin trading exacerbates the volatility in the market. 
Today, Obama's pick for Treasury Secretary, Tim Geithner will be in the spotlight as he appears before the Senate and answer to his tax "mistakes".  However it appears this … (0 comments)

mortgage rates: Will Hope Float Bonds on Inauguration Day? - 01/20/09 09:23 AM
After being closed for 3 days, there are no fireworks for Mortgage Backed Securities (MBS) this Inauguration morning.  In fact, they are lacking any enthusiasm as they opened lower... below the 25 day moving average and support, plunged 38 basis points searching for the next support level, and thankfully caught a slight bounce back.  Currently MBS are down 9...and rates are higher from Friday. 
Banks continue to feel the pain.  Bank of America announces they are cutting 4,000 jobs in New York.  Regions Financial is reporting losses, State Street reporting drop in profits of 71%.  Financial stocks opened lower this morning … (0 comments)

 

Elizabeth Rose - Certified Mortgage Planning Spec - Texas

Highland Village, TX

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Network Funding, LP

Address: 2800 Corporate Drive, Suite 101, Flower Mound, TX, 75028

Office Phone: (972) 244-3121

Cell Phone: (972) 345-3268

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An inside look at the mortgage market and how it might affect you.


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