Not necessarily surprising that interest rate markets are seeing a little push back this morning after the strong rallies yesterday in treasuries and mortgages. That rates are slightly higher this morning have little to do with the larger picture, the US economy is slipping back and likely will weaken through the rest of the year. If not weaken, the best we can see is stagnant economic growth. At 8:30 weekly jobless claims were down 6K to 428K, another less than expected report; claims were expected at 413K. Continuing claims at 3.71 mil frm 3.712 mil. Claims remain … (0 comments)
real estate: Mortgage News 06-02-2011
- 06/02/11 06:53 AM
Post-Closing's Impact on Hedging Costs; Bank Liquidity and Required Reserves; ADP's Accuracy; NMLS Training by Rob Chrisman Given yesterday's economic numbers, suddenly the market thinks the US is heading into another recession. Well, it's not exactly a recession - yet. But many will argue that there should be no "suddenly" in that sentence, and that, since housing and jobs are languishing, the economy has never come out of its doldrums to begin with. In a recent article, however, Caroline Baum pointed out that the yield curve "says" that there will be no recession. "With the Federal Reserve's benchmark rate at zero … (0 comments)
real estate: Mortgage Market Snapshot 05-25-2011
- 05/25/11 06:25 AM
Rate markets started slightly weaker this morning, the bellwether 10 yr note still unable to crack 3.10% closing yesterday at 3.11% and at 8:45 this morning at 3.13%. Mortgage prices also a little weaker, -4/32 (.12 bp) at 8:45. Asian stock markets were lower on soft earnings, Europe's stock markets trading weaker and US stock indexes looking soft into the 9:30 open. Crude lower to start the day while gold a little higher. At 8:30 April durable goods orders were a lot weaker than thought; orders expected down 2.0% fell 3.6% after increasing 4.4% in March, the decline in April the … (0 comments)
real estate: Mortgage News 05-25-2011
- 05/25/11 06:11 AM
Goldman Sachs Buying Up Jumbo Mortgage Product. More Lenders Chasing Non-Agency Deals; Appraisal Feedback by: Rob Chrisman Pssst... Goldman Sachs is in buying jumbo mortgages. "Goldman has been stockpiling jumbo mortgages at a rate that far exceeds the buying activity of Bank of America, Barclays, Credit Suisse, RBS and other banks that are trying to revive their once-active conduit businesses." ABAlertGoldmanJumbos. I know that Goldman isn't in business for their health, and I am no "industry insider" but if I was I'd be wondering who picked these mortgages for Goldman to buy. Is Goldman going to short the deal? Is the … (0 comments)
real estate: Mortgage Market Snapshot 05-17-2011
- 05/17/11 06:01 AM
At 8:30 April housing starts were worse than expected, down 10.6% to 523K units annualized with forecasts up 2.8%; March starts were revised higher, up 12.9%. April single family starts -5.1%. April building permits expected down 0.7% fell 4.0%. We don't have a lot to add to the report in that it continues to slide, as long as housing does not show any recovery there is little anyone should expect in the way of economic improvement. We are amazed, and even somewhat shocked that there is very little outward attention to the crisis in Washington; possibly because there is not much … (1 comments)
real estate: 05-17-2011 Mortgage News
- 05/17/11 05:51 AM
May 17, 2011: Quicken comp issue still in courts; amazing list of Fannie & Freddie pending bills; why the rally in high balance agency pricing?Rob Chrisman Sometimes you think things are one way, and they turn out to be different. (Just ask Maria Shriver, who found out about Arnold Schwarzenegger and a longtime female member of their household staff had a child together more than a decade ago.) The compensation issue involving Quicken Loans is in the news again as “the U.S. Supreme Court asked the Obama administration for its views Monday on a case that examines when mortgage lenders can … (0 comments)
by: Sigma Research
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