education: Should I float? Should I lock? - Daily Update for Thursday, May 15, 2008
- 05/15/08 02:31 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. More "good" news this morning. Jobless Claims are reporting an increase and a regional manufacturing index came in lower than expected. Capacity Utilization and Production were both lower than expected. Lastly, the Philadelphia Fed Index came in better than expected - yet, still in negative territory . Overall, this points to continued weakness in the economy without the overall threat of inflation. Technically speaking - the … (2 comments)
education: Should I float? Should I lock? - Daily Update for Wednesday, May 14, 2008
- 05/14/08 07:33 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Consumer Prices came in below target expectations today. Both the regular and the core were lower than expected. This rather tame reading on inflation, while normally good for bonds, has caused the stock market to improve markedly causing bonds to lose what little they gained today. Technically speaking - the FNMA 5.5% 30 year bond which had a major downturn yesterday has since managed … (1 comments)
education: Should I float? Should I lock? - Daily Update for Tuesday, May 13, 2008
- 05/13/08 12:41 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Retail sales came in exactly on target. Unfortunately, sales minus the ever fluctuating auto industry came in better than expected. This will give encouragement to the stock market and feed a sell off of bonds - translating to an increase in rates today. Technically speaking - the FNMA 5.5% 30 year bond fell below a major level of support this morning on the news … (1 comments)
education: Should I float? Should I lock? - Daily Update for Monday, May 12, 2008
- 05/12/08 01:43 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. With a week filled with all sorts of economic news, bonds will be taking guidance from stocks today. Oil is up, negative earnings reports are still coming out, and a lethargy still hangs over the economy. Technically speaking - the FNMA 5.5% 30 year bond fell to a big level of support on Friday. A combination of news and bond rollover. Bonds are holding rather … (1 comments)
education: Should I float? Should I lock? - Daily Update for Friday, May 9, 2008
- 05/09/08 02:42 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Balance of Trade for last month was slightly lower. Yesterday, two European banks left interest rates unchanged as a fight against inflation. This helped bonds here in the U.S. tick up a few notches. The new record prices of oil and further problems in the insurance industry have not been helping bonds this morning. Technically speaking - the FNMA 5.5% 30 year bond has … (0 comments)
education: Should I float? Should I lock? - Daily Update for Thursday, May 8, 2008
- 05/08/08 12:52 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Jobless Claims came out this morning slightly lower than expected. Is this a statistical blip or is the economy improving? Productivity increased but hours worked decreased. Finally, labor costs increase but not as much as expected. All of this points to unsure times ahead. Technically speaking - the FNMA 5.5% 30 year bond is at the bottom of a tight trading range. Depending on how the … (3 comments)
education: Should I float? Should I lock? - Daily Update for Wednesday, May 7, 2008
- 05/07/08 01:35 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. One more day till scheduled economic news comes out - Jobless Claims. We are still in a mode where bonds are taking directions from stocks and other rumors coming out (FNMA not doing well, oil going up resulting in higher inflation therefore bonds are going to take a hit and rates get worse, etc). Until that time as actual news is release - hang on … (6 comments)
education: Should I float? Should I lock? - Daily Update for Tuesday, May 6, 2008
- 05/06/08 01:17 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Big news of the day - Fannie Mae reports a bigger loss than expected and cuts its quarterly dividend. While this isn't exactly going to roil the markets, it certainly shows the pain is not yet over. Since there aren't any economic reports due out til Thursday (Jobless Claims), bonds will be taking direction from stocks (which in pre market trading appear to be going … (0 comments)
education: Should I float? Should I lock? - Daily Update for Monday, May 5, 2008
- 05/05/08 02:10 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Other than news of Microsoft not buying Yahoo for $46 billion, the only other real news is the non-manufacturers or services index came in higher than expected. Other than a brief dip in bond prices things are back up to par and taking their lead from the stock market. Technically speaking - the FNMA 5.5% 30 year bond have rebounded above all moving average this … (0 comments)
education: Should I float? Should I lock? - Daily Update for Friday, May 2, 2008
- 05/02/08 01:48 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Unemployment has dropped - to 5.0%, Jobless claims weren't as bad as expected - still lost 10,000 jobs. What does this mean? Interest rates going up today. Technically speaking - the FNMA 5.5% 30 year bond have dropped to a key level of support this morning. While it was down as much as almost 100 bps down, the bond has rebounded back. With all this volatility, … (1 comments)
education: Should I float? Should I lock? - Daily Update for Thursday, May 1, 2008
- 05/01/08 12:49 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. The Fed did it - dropped the target rate .25% to 2.00% and hinting a pause will occur. In other news - Personal Spending, Personal Consumption, and Jobless Claims were all up, while personal income dropped. Though this is all essentially a wash, bonds appear to be reacting favorably to the news. Technically speaking - the FNMA 5.5% 30 year bond is now above all moving … (0 comments)
education: Should I float? Should I lock? - Daily Update for Tuesday, April 29, 2008
- 04/29/08 02:04 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Consumer Confidence came in lower than expected - though after Friday's report somewhat expected. Tomorrow, The Fed will more than likely be dropping rates another .25%. Since they are the Fed they will be privy to the reports being released Wed morning of GDP, Inflation and Employment. Yesterday, bonds improved slightly with continued fear in the market place over concerns of a recession and what … (3 comments)
education: Should I float? Should I lock? - Daily Update for Monday, April 28, 2008
- 04/28/08 01:10 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Consumer Confidence is on tap for tomorrow. Wednesday, The Fed will more than likely be dropping rates again on Wednesday. Since they are the Fed they will be privy to the reports being released Wed morning of GDP, Inflation and Employment. Today bonds will be taking direction from stock as well as doing some guess work of their own on what Bernanke and Company will … (0 comments)
education: Should I float? Should I lock? - Daily Update for Friday, April 25, 2008
- 04/25/08 02:10 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Consumer Sentiment was expected to be at levels higher than last month but ended up falling to less than what it was las month. Neither terrific nor horrific, but in an environment starved for news on where to take direction - an overall positive note for bonds. Technically speaking - the FNMA 5.5% 30 year bond though still below the 50 & 100 day moving averages is … (2 comments)
education: Should I float? Should I lock? - Daily Update for Thursday, April 24, 2008
- 04/24/08 01:32 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Good (Bad) News of the day - Durable Goods Orders were down 3/10% as opposed to the expected 1/10% rise. The Bad (Good) News of the day - Jobless Claims fell 30,000 jobs. It appears the markets are putting more credence into the 2nd bit of news. The bond market has been open less than 1.5 hours and we are already down 50 bps. Technically speaking - … (1 comments)
education: Should I float? Should I lock? - Daily Update for Wednesday, April 23, 2008
- 04/23/08 01:29 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Yesterday Existing Home Sales came in right on target which did little to sway the markets. The moving of the bond market was the continue bearish behaviour of Wall Street. Only scheduled reporting of the day has to do with oil inventories. This affects the bond market very little. The only thing that might adversely affect the market this morning is the news that Bank of America … (0 comments)
education: Should I float? Should I lock? - Daily Update for Tuesday, April 22, 2008
- 04/22/08 12:48 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. We are still a day from any regular scheduled economic reports. Therefore bonds will be taking some direction from stocks today. Technically speaking - the FNMA 5.5% 30 year bond bounced above the 50 day and 100 day moving average yesterday. This morning the bond dropped down to test the 100 day moving average (currently higher than the 50 day by 13 basis points (bps). The … (0 comments)
education: Should I float? Should I lock? - Daily Update for Monday, April 21, 2008
- 04/21/08 01:05 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Regularly scheduled market reports are not due out again until Wednesday. Bonds will be taking direction from other sources. Friday proved this out. The day started with a significant increase in the stock market and predicable response from the bonds of opening low and staying low most of the day. The last few hours of Friday resulted in bonds improving significantly. This appears to have … (1 comments)
education: Banks & Lenders not get the Memo - Part II
- 04/18/08 04:14 AM
It appears FNMA is listening - though I don't know the amount of control they are actually going to have. Statement by Brian Faith Managing Director, Communications on Jumbo Conforming Loan PricingApril 17, 2008 Fannie Mae is providing price certainty for all our customers for jumbo-conforming mortgages. We believe price certainty is important to help facilitate an efficient market for jumbo-conforming mortgages. Since April 1, we have been making jumbo-conforming whole loan pricing available for lenders large and small in order to provide as much liquidity as possible to this sector of the market. Currently, the yield Fannie Mae requires for fixed-rate, jumbo-conforming … (1 comments)
education: Should I float? Should I lock? - Daily Update for Friday, April 18, 2008
- 04/18/08 01:04 AM
Here are the daily thoughts on floating or locking if you are asked by your clients. As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. Talk about jittery for all the wrong reasons. Citibank reported earnings this morning. They had a bigger loss than expected, $13 billion in write downs, but because some revenue streams came in higher stocks across the board are way up in pre-market trading. Yesterday, the Fed had another auction that went quite well. In fact, so well that bonds actually ended up yesterday. Since there won't … (0 comments)
Here are the daily thoughts on floating or locking if you are asked by your clients. ;)
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