Mortgage Market Report for Wednesday January 30th, 2008 - 01/30/08 04:09 PM
The Fed released its results from the last meeting and the decision was to cut the Fed Funds Rate one half a point or 50 basis points. The market improved somewhat. These lower rates will effect business loans, consumer loans, Home Equity Lines of Credit and Adjustable Rate Mortgages. You should know … (0 comments)
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Mortgage Market Report for Tuesday January 29th, 2008 - 01/29/08 11:03 AM
Mortgage Market Report for Tuesday January 29, 2008
The past several trading days, the Mortgage Bonds have been most volatile. The Fed's decision is due tomorrow. Consumers Confidence was reported stronger than expectations raises some concerns for those policymakers at the two day Fed meeting.
The Fed's interest rate decision and Policy Statement will … (1 comments)
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Mortgage Market Report for Monday January 28, 2008 - 01/28/08 11:08 AM
Mortgage Market Report for Monday January 28, 2008Fasten your seatbelts this week. The reports this week are Wednesday's Fed rate announcement, Thursday's Core Personal Consumption Expenditure PCE and Friday's Jobs Report. Every one of these reports can really move the market. Every trading day last week had a large movement as … (2 comments)
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Mortgage Market Report for Friday January 25th, 2008 - 01/25/08 11:36 AM
Mortgage Market Report for Friday January 25, 2008Another volatile day in the market. Stocks opened higher and are now much lower. So again bonds are being purchased as the uncertainty continues in the markets. We have seen a large loss in rates in the past couple of days as stocks have … (0 comments)
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Mortgage Market Report for Thursday January 24th, 2008 - 01/24/08 11:13 AM
Mortgage Market Report for Thursday January 24, 2008Yesterday created over a 600 point difference between Dow Jones opening and the closing. Down 300 then finishing up around 300. Bonds finished lower on the strong stock finish. In this morning's economic news, Initial Jobless Claims below expectations and represented it's fourth consecutive weekly … (1 comments)
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Mortgage Market Report for Wednesday January 23, 2008 - 01/23/08 12:24 PM
Mortgage Market Report for Wednesday January 23, 2008
This morning stocks opened significantly lower but have recovered somewhat. Bonds surged as money was again parking with security in bonds. Stocks have lost much of their gains as stocks have improved off their lows.
Bond prices have benefited from this large stock movements in … (1 comments)
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Mortgage Market Report for Tuesday January 22, 2008 - 01/22/08 12:24 PM
Mortgage Market Report For Tuesday January 22nd, 2008
Last night a special meeting was held by the Fed. The Fed decided to cut the Fed Funds Rate by .75% to 3.5%. This will help those loans tied to the prime rate and most other ARM loans initially. Stocks took this on the … (3 comments)
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Mortgage Market Report for Friday January 18, 2008 - 01/18/08 11:19 AM
Mortgage Market Report for Friday January 18, 2008
President Bush announced the principles of his economic stimulus package to avoid a recession. The stock market that had been up over 150 points shortly before the speech went negative shortly after the speech. No details have been outlined. Once the details of the … (1 comments)
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Mortgage Market Report for Thursday January 17th, 2008 - 01/17/08 12:48 PM
Mortgage Market Report for Thursday January 17, 2008
Volatility continues. Bonds have rebounded off Ben Bernake's testimony before the House Budget Committee.
He talks about no recession but slow growth. He says that the US economy remains resilient and has inherent strengths. Bernake's comment of no recession means that the Fed cuts may … (3 comments)
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Mortgage Market Report for Wednesday January 16th, 2008 - 01/16/08 11:30 AM
Mortgage Market Report for Wednesday January 16, 2008
Consumer Price Index was reported a little higher than expectations. The closely watched year-over-year Core CPI was reported at 2.4%.
This puts additional pressure on the Fed not to relax interest rates at the next meeting January 30th Because their target is 1% to 2%. So … (0 comments)
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Raising the Conforming Loan Limit ??? - 01/15/08 12:16 PM
Raising the Conforming Loan Limits ???
The Office of Federal Housing Enterprise Oversight issued a report on January 11th, 2008. The report discusses raising the conforming loan limit from its current $417,000.
The OFHEO analyzed impacts from the House and Senate bills. The bill is HR 1427. It would allow higher cost … (2 comments)
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Mortgage Market Report for Tuesday January 15, 2008 - 01/15/08 10:30 AM
Mortgage Market Report for Tuesday January 15, 2008
The weak news on the economic reports are prompting a surge in mortgage bonds. Tomorrows Consumer Price Index will be out tomorrow and will carry more weight. News from Citigroup are also hurting stocks and helping bonds. The huge, nearly 10 billion, loss in … (0 comments)
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Mortgage Market Report for Monday January 14th, 2008 - 01/14/08 10:32 AM
Mortgage Market Report for Monday January 14, 2008Bonds are at their best levels since August of 2005 and have kept the gains from Friday. Citigroup may have to write off another $24 Billion in sub-prime mortgage related losses. This may prompt a restructuring where up to 20,000 employees may be at … (0 comments)
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Mortgage Market Report for Friday January 11, 2008 - 01/11/08 11:08 AM
Mortgage Market Report for Friday January 11, 2008
Yesterdays rumors of the Bank of America buy out became the big news of the day is that Countrywide has been purchased for 4.1 Billion in a stock for stock trade. This buyout should stabilize Countrywide and prevent bankruptcy. This will also create the … (0 comments)
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HOPE NOW - What are Lenders Doing??? - 01/10/08 06:50 PM
HOPE NOW-Lenders and BorrowersAmerican Securitization Forum, which represents companies that issue mortgage backed securities, as well as investors, loan servicers and rating agencies, issued a 34 page document outlining guidelines for servicers to follow in streamlining refinancing or loan modifications on adjustable rate mortgages that are scheduled to adjust in the next 2 1/2 … (0 comments)
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Ben Bernake Remarks January 10, 2008 - 01/10/08 12:38 PM
Since late last summer, the financial markets in the United States and in a number of other industrialized countries have been under considerable strain. The turmoil has affected the prospects for the broader economy, principally through its effects on the availability and terms of credit to households and businesses. Financial market … (0 comments)
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Federal Reserve Proposal for Mortgage Lenders - 01/10/08 11:16 AM
The Federal Reserve is proposing a new set of Federal rules for mortgage lenders. Their objective is to avoid abusive lending while maintaining a solid basis for lending and homeownership in the US. A current draft states, "Circumstances appear to warrant imposing a new national legal standard on sub-prime lenders to … (2 comments)
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Mortgage Market Report for Thursday January 10, 2008 - 01/10/08 10:22 AM
Stocks are trading slightly higher and bonds are trending lower. The bonds had hit the topping out pattern we have been seeing lately.A speech from Big Ben Bernake is scheduled for 1pm Eastern Time today. The speech could move the markets. Most will be looking for signs about the next meeting … (2 comments)
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Mortgage Market Report for Wednesday January 9th, 2008 - 01/09/08 11:00 AM
Mortgage Bonds are losing the upward momentum and are trading lower this morning. Without any significant reports being released today bonds should not break above the overhead ceiling of resistance.Bonds have not closed lower in the past eight consecutive days. This is a remarkable occurrence. This is rare. Bonds are even … (0 comments)
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Mortgage Market Report for Tuesday January 8th, 2007 - 01/08/08 10:19 AM
Mortgage Market Report for January 8, 2008
It appears that Mortgage Bonds are taking an overdue rest after their rise higher over the past couple of days.
Philadelphia Fed President Charles Plosser indicated that the Fed is in tough spot with regards to monetary policy because the economy is slowing at the same … (0 comments)
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Mortgage Market Report for Monday January 7th, 2008 - 01/07/08 10:07 AM
Mortgage Market Report for Monday January 7th, 2008
Bonds are trading higher as prices are just below the resistance levels.
Atlanta Fed President Dennis Lockhart is scheduled to speak later today. These comments are being carefully watched an the market will key in on comments regarding the next Fed move on January … (0 comments)
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Mortgage Market Report for Friday January 4th, 2008 - 01/04/08 10:09 AM
Mortgage Market Report for Friday January 4, 2008
The Jobs Report is out and it is lower than expectations. This is the largest private sector drop in more than four years. Hourly earnings moved higher and this is contradictory to the jobs numbers and suggests some wage pressure inflation. Employers may be … (0 comments)
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Mortgage Market Report for Thursday January 3rd, 2008 - 01/03/08 11:32 AM
Mortgage Market Report for Thursday January 3, 2008
The ADP report suggests that the Jobs report will be in line with estimates. Bonds are moving slightly lower.
The Jobs Report will be released at 8:30AM Eastern Time. It will show the actual number of jobs being created and focused on the hourly earnings … (0 comments)
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Mortgage Market Report for Wednesday January 2nd, 2008 - 01/02/08 10:00 AM
Mortgage Market Report for Wednesday January 2, 2008Bonds are starting off the new year with a bang. The Institute of Supply Management Index Report was way below expectations showing contraction in the manufacturing sector. This hit stocks and bonds were the beneficiary.Tomorrows ADP report will give clues to Friday's Jobs report. If … (0 comments)
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