Happy Thanksgiving Everyone! - 11/26/08 08:37 PM
 
 
 
 
Thanks,Greg AdelmanMidwest Home Center LLC.715-483-0012612-735-4414 cell612-395-5444 fax www.midwesthomecenter.com 
 
 
 
 
… (0 comments)

Market update - 11/24/08 11:38 AM
Stocks are trading higher on news that Citigroup is set to receive a $306 Billion lifeline from the US Government, and an additional $20B in cash from the Treasury Department. In exchange, the Government will receive $27B of preferred shares, paying an 8% dividend. This is an enormous financial commitment by the US Government, but over time this deal could be a profitable one for taxpayers.
Also helping Stocks move higher are talks of a larger than expected stimulus plan by the Obama administration, which could top $1 Trillion.
Mortgage Bonds are trading near unchanged levels, and will likely take their … (0 comments)

Market update - 11/20/08 12:37 PM
Over the years, MMG has continued to help the mortgage community discover and understand the disconnect between the 10-year Note and Mortgage Bonds. In recent times that disconnect has been very clear to anyone in our world - but in the past 24 hours, the disconnect has been dramatic. Since yesterday the 10-year Note has risen by 285bp, while Mortgage Bonds have risen 12bp!!! Do you think the media knows this? NO. Use this to inform your relationship partners and clients of what really drives fixed rate mortgages.
So what happened? Yesterday the Fed Minutes from the October Fed Meeting were … (0 comments)

Mortgage Rates - 11/06/08 10:13 AM
Mortgage backed securities were off about 40 bps this morning, but are only off 9 bps currently.  I would continue to float and see if they continue to improve throughout the day. 
Risks favor: Floating into Jobs Report Current Price of FNMA 6% Bond: $101.31, -34bp Mortgage Bonds are down sharply this morning after they have enjoyed a nice three-day 160bp rally higher. Prices are now resting just near important support at the 200-day Moving Average with the highly anticipated Jobs Report set for release tomorrow - read on for our Jobs Report Strategy.
Initial Jobless Claims were 481,000, slightly … (0 comments)

Interest rates and the Election - 11/03/08 01:19 PM
Risks favor: Floating, with a finger on lock trigger Current Price of FNMA 6% Bond: $100.12, +19bp Mortgage Bonds are trading a bit higher, but already far off the best levels of the day. In a speech this morning, Richmond Fed President Jeffrey "The Dissenter" Lacker, said the US economy was definitely in a recession, but he believed it would be fairly moderate in size. "We are in a contraction. Up until the summer it was a fairly mild recession,". Mr. Lacker, is not a voting Fed member, but he will be back in the voting rotation in 2009.
The ISM … (0 comments)

 

Greg Adelman

Saint Croix Falls, WI

More about me…

Midwest Home Center

Office Phone: (952) 583-4507

Cell Phone: (612) 735-4414

Email Me



Links

Archives

RSS 2.0 Feed for this blog