tooele mortgage: Daily Bond Report - 08/08/08 01:36 PM
Friday, August 08, 2008
With Fannie Mae announcing that their second quarter earnings were three times less than what analysts expected and their CEO stating that they are expecting it to get worse, it would seem logical that the bond and stock market would follow past trends and would both tank... … (1 comments)
tooele mortgage: The Daily Bond Report - 08/01/08 11:17 AM
Friday, August 01, 2008
Unemployment jumped to 5.7% beating estimates, but June employment payrolls 17,000 less than expected. Who makes these estimates!?!?!?! So far, the economy has lost a total of 463,000 jobs this year. Alan Greenspan, famous for being pulled out of the mothballs and dusted off, talked about what … (1 comments)
tooele mortgage: The Daily Bond Report - 07/31/08 02:03 PM
Thursday, July 31, 2008
I have a real problem accepting the price of gas when once again Exxon reported record profits... they did miss what analyst expected though. Off my soapbox. The second quarter GDP rose 1.9%, nearly doubling last quarter, but less than the 2% analysts were hoping for. Sounds … (0 comments)
tooele mortgage: The Daily Bond Report - 07/30/08 12:24 PM
Wednesday, July 30, 2008
Let's start with the bad news and work our way to good. Mortgage applications dropped 14.1% to levels not seen since 2000, with purchase applications down 7.8%. This is understandable in our ever tightening loan market. With rates up and concerns on inflation being the biggest reason, … (0 comments)
tooele mortgage: The Daily Bond Report - 07/29/08 01:17 PM
Tuesday, July 29, 2008
When bad news goes good... bonds took a slight nosedive today after investment bank Merrill Lynch said late Monday it would take a $5.7 billion write-down and sell off $30 billion in mortgage backed securities (MBS) this quarter.... At 1/5th their face value. They are doing this, … (0 comments)
tooele mortgage: The Daily Bond - 07/28/08 01:49 PM
Monday, July 28, 2008
Today is a sure float day... for now. With a number of economic reports due out this week, today's happy bond day is due to the sad stock day. Thankfully oil is in a holding pattern even though there was a small bombing issue on one of … (1 comments)
tooele mortgage: The daily Bond Report - 07/22/08 12:47 PM
Lock. Lock. Lock. Did I mention that you should have your clients lock today? With Oil below $127, gold down more than $17 today and stocks only on a modest gain, it would sound like a great day for the bond market. Unless of course more bad media came out today on … (0 comments)
tooele mortgage: The Daily Bond Report - 07/18/08 01:55 PM
Wednesday, July 16, 2008
The one thing you can count on when you take time off is that whatever can go wrong will. Earnings reports have been coming out this week, and as expected the losses were major. The interesting part is that they were not as major as expected. Today … (0 comments)
tooele mortgage: The Daily Bond Report - 07/16/08 01:19 PM
Wednesday, July 16, 2008
yea, it's been a lock day. Most of the market news making the DOW shooting up was based not on companies reporting record profit, but rather loosing less than expected. I am a big fan of finding the silver lining in mushroom cloud that has been the … (0 comments)
tooele mortgage: The Daily Bond - 06/20/08 03:15 PM
Friday, June 20, 2008
We started the day off well enough and even had the option of a re-price for the better. With Oil down from its high of the day, and all the major Indices also down, it would be safe to say today is a float day.... But it … (0 comments)
tooele mortgage: The Daily Bond Report - 06/19/08 12:17 PM
Thursday, June 19, 2008
It's another mattress day today as the bond, oil, and the Dow are all struggling to be positive. Making market news today are Mays Leading Economic Indicators, Jobless claims, and the Fed Philly Survey. The LEI, which measures 10 different aspect of the economy and trying to … (0 comments)
tooele mortgage: The Daily Bond Report - 06/18/08 03:37 PM
Wednesday, June 18, 2008
We are having a modest rally on the bond today. Currently we are up 64 Bp for the day, and 40 Bp since pricing came out at 10 am, giving us 2 re-prices for the better. The main driving force today is more on worries from the … (0 comments)
tooele mortgage: The Daily Bond Report - 06/17/08 11:21 AM
Tuesday, June 17, 2008
Here is something that you don't hear every day. Kuwaiti Finance Minister Mustafa Al-Shimali stated today that oil prices are too high and that they should be around $100 per barrel. With this coming from the 4th largest oil producing member OPEC, oil has retreated below $134 … (1 comments)
tooele mortgage: The Daily Bond Report - 06/12/08 02:07 PM
Thursday, June 12, 2008
This morning the bond found its level of support..... and then shot lower. With May retail sales beating everyone's expectations by .5%, it seemed that the much worse than expected unemployment numbers, which came in at 384,000, took a back seat. Bonds are still tracking down and … (1 comments)
tooele mortgage: The Daily Bond Report - 06/11/08 01:53 PM
Wednesday, June 11, 2008
What a fun day yesterday. Since I was unable to e-mail and post this yesterday, here is a brief synopsis. 3 (count them) reprises for the worse, and a 118 Bp drop on the bond. We are still in a lock mode for the time being. That … (0 comments)
tooele mortgage: One Last thought - 06/03/08 01:07 PM
Coming soon to a lender near you...RETURN OF THE SISA... 100% 620 FICO, WAGE EARNER, ROLLING 30'S OK!!! Naaaa. That is what got us into the mess in the first place. The SISA has returned, but in a tamed down (somewhat sensible) version. What is allowed is 80% CLTV at a … (0 comments)
tooele mortgage: The Daily Bond Report - 06/02/08 01:58 PM
Monday, June 02, 2008
YOU'RE FIRED!!!! And with that investors became worried about the market and have given us a small rally in the bond today. Today the CEO's of both Wachovia and Washington Mutual were asked to step down as chairmen. To add to bond, today's economic reports, although better … (0 comments)
tooele mortgage: The Daily Bond Report - 05/30/08 12:24 PM
Friday, May 30, 2008
Consumer confidence fell to a 28 year low according to the University of Michigan. This is the lowest reading since June 1980. To make everyone happy income rose .2%, but inflation is now expected to surge 5.2% (highest since 1982). Here I thought only bad hairdo's came … (0 comments)
tooele mortgage: The Daily Bond Report - 05/29/08 12:08 PM
Thursday, May 29, 2008
Bonds are getting hammered today with the FNMA 5.5% 30 yr down 85 Bp for the day. The big winner today are stocks which meandered this morning for a while between positive and negative territory then shot up over 119 in the last 45 minutes. Moving the market … (0 comments)
tooele mortgage: The daily Bond Report for the Salt Lake and Tooele Markets - 05/28/08 12:00 PM
Wednesday, May 28, 2008
Durable Goods came in down .5% which was slightly less than the .7% drop than anticipated. What has killed the bond today is that if you exclude transportation, it came in up a whopping 2.5%. This may be a signal that businesses feel that it is time … (0 comments)
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Friday, August 08, 2008
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