interest rates: Market Update 11-14-2008 - 11/14/08 02:06 PM
US Stocks are struggling to get back to even for the day, after initially giving up more than half of yesterday's gain. Mortgage Bonds are better than yesterday, but not enough to see any meaningful rate improvement.
Stocks took their cue from today's Retail Sales report that showed a 2.8% … (2 comments)
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interest rates: Market Update 11-10-2008 - 11/10/08 06:12 PM
US Stocks began the day on the upside following the trend from overseas markets, but quickly fell into the red. Mortgage Bonds held early gains longer, but also turned negative before their early closing.
Stocks took their cue from overseas markets early on as the Dow jumped out to a 200 … (2 comments)
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interest rates: Market Update 11-03-2008 - 11/03/08 01:27 PM
US Stocks are trading in a fairly narrow range, given the recent history of wild swings, and the Dow is trying to find a way to post a positive in the face of a dismal reading from the ISM Index. Mortgage Bonds are up slightly as they continue to trade sideways. … (0 comments)
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interest rates: Market Update 10-23-2008 - 10/23/08 03:59 PM
US Stocks are back to the "normal" volatility roller coaster, and the Dow has been up more than 200, down more than 200, and is now mounting a late day rally back to positive. Mortgage Bonds have traded to the negative today, but are still priced above the important 200 day average.
Stocks … (4 comments)
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interest rates: Market Update 10-22-2008 - 10/22/08 04:48 PM
US Stocks are down today with the Dow of by as much as 5% as investors deal with poor earnings, and fears of global recession . Mortgage Bonds are holding on to slight gains as they push against technical pricing resistance.
The Dow is back down to the 8,600 range … (2 comments)
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interest rates: Market Update 10-21-2008 - 10/21/08 03:51 PM
After a day of only positive numbers, US Stocks are back to the roller coaster we have come to expect with the Dow down by over 200 points, as well as being in positive territory throughout the day. Mortgage Bonds have not been nearly as volatile, and have traded within a … (0 comments)
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interest rates: Market Update 10-20-2008 - 10/20/08 03:46 PM
US Stocks are on a strong rally, responding well to the prospect of another government stimulus package. Mortgage Bonds are also much better, as they push to finish above their 200 day average.
Stocks continued their winning ways to start the week, as the Dow is enjoying the first day … (2 comments)
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interest rates: Market Upate 10-17-2008 - 10/17/08 03:15 PM
US Stocks continue their roller coaster ways as the Dow has been down by 200, and up by 300 while it is currently nearly flat for the day. Mortgage Bonds have also traded in a seesaw manner as they react to Stocks, but they look to finish positive for a third … (0 comments)
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interest rates: Market Update 10-16-2008 - 10/16/08 12:17 PM
US Stocks are back on the seesaw today as the Dow was initially up by triple digits, then down nearly 400, and currently has rallied back to be "only" down 150. Mortgage Bonds enjoyed a strong rally yesterday, bouncing off their lows of the year, and ending the day with enough … (0 comments)
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interest rates: Market Update 10-15-2008 - 10/15/08 12:40 PM
Us Stocks are falling once again, with the Dow testing the 9000 mark. Mortgage Bonds are also under pressure, but have made some gains after touching on their low point (= high rates) for the year.
While Stocks are down across the board, it looks like today's losses are at least partially … (0 comments)
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interest rates: Market Update 10-14-2008 - 10/14/08 01:39 PM
US Stocks looked to build on yesterday's historic rally, gaining 400 points in early trading, but have since cooled down and are back to the day's starting numbers. Mortgage Bonds opened down from yesterday, and despite an early rally have settled close to the opening mark.
Stocks benefitted early from … (1 comments)
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interest rates: Market Update 10-13-2008 - 10/13/08 02:58 PM
US Stocks are responding well to the latest round of government support with the Dow trying to finish above 9000, after falling below 8500 last week. Mortgage Bonds are not trading today due to financial markets observance of the Columbus day holiday.
Stocks rallied out of the gate this morning on … (3 comments)
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interest rates: Market Update 10-10-2008 - 10/10/08 04:51 PM
Today's update is more of a market wrap, as I tried on several occasions to create an update, but was unable to type fast enough! The Dow ended down by 128 points on the day, but traded in a record range of over 1000 points after falling by nearly 700 points … (0 comments)
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interest rates: Market Update 10-09-2008 - 10/09/08 12:58 PM
US Stocks are "enjoying" another roller coaster day on Wall Street with the Dow up as much as 200 points, but now down about 100. Mortgage Bonds have been more consistent, but in a negative manner, moving negatively toward the 200 day average.
Stocks were looking for a bounce back day, and … (3 comments)
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interest rates: Market Update 10-07-2008 - 10/07/08 01:18 PM
US Stocks are extending yesterday's losses after a brief rally to start the day. Mortgage Bonds are trying to hold their gains as they trade in reactions to Stocks once again.
The Dow is currently down triple digits despite a positive start on news of the Fed's latest effort to kick … (0 comments)
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interest rates: Market Update 10-06-2008 - 10/06/08 01:24 PM
US Stocks are plummeting on concerns over the recent government bailout with the Dow down by more than 500 points. Mortgage Bonds are one of the beneficiaries of this flight to quality as we currently trade back near the levels of two week's ago.
Declining Stocks are currently at a 30 … (0 comments)
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interest rates: Market Update 09-26-2008 - 09/26/08 03:15 PM
US Stocks are trending flat to slightly negative on uncertainty over the government bailout, and the predicted failure of WAMU. Mortgage Bonds are following suit as they trade in a very tight range.
The Stock Market is waiting to see what actually comes out of Washington as the news on … (0 comments)
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interest rates: Market Update 09-25-2008 - 09/25/08 12:56 PM
US Stocks are on the rise, with the Dow up over 200 points in the first hour of trading, as hope for congressional approval of a rescue plan overwhelms negative economic data. Mortgage Bonds initially posted gains as a reaction to the poor economic news, but have fallen back a bit … (3 comments)
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interest rates: Market Update 09-23-2008 - 09/23/08 05:04 PM
Today is not so much an update as an explanation.
US Stocks are finishing down for the day with the Dow off by over 150 points after experiencing triple digit gains earlier. Mortgage Bonds have also seesawed up and down throughout the day, and will finish negative though not by … (2 comments)
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interest rates: market Update 09-22-2008 - 09/22/08 03:50 PM
US Stocks are in a deep decline following last week's rally with the Dow currently down over 300 Points. Mortgage Bonds have traded down from last week, breaking below support levels for the first time in 2 weeks.
Stocks are plummeting following the release of the government's hastily prepared rescue … (4 comments)
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interest rates: Market Update 09-19-2008 - 09/19/08 01:39 PM
US Stocks have extended yesterday's momentous end of the day rally with the Dow steadily up by over 350 points today. Mortgage Bonds have been up and down, and have now fallen below technical pricing support for the first time since the government bailout of FNMA/FHLMC.
This has truly been … (2 comments)
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interest rates: Market Update 09-18-2008 - 09/18/08 04:11 PM
US Stocksare experiencing another roller coaster day as the Dow has been both up, and down by over triple digits, and is currently up over 300 points. Mortgage Bonds have also been up and down all day, but stayed within their recent range of resistance and support.
Once again Market headlines rule … (2 comments)
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interest rates: Market Update 09-17-2008 - 09/17/08 01:44 PM
US Stocks are plummeting with the Dow having been off by more than 350 points, and showing no signs of any real rally. Mortgage Bonds are only slightly positive for the day, while the flight to quality focuses on Treasury's.
Once again any economic reports must take a back seat to … (2 comments)
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interest rates: Market Update 08-08-2008 - 08/08/08 12:04 PM
Following yesterday's losses, US Stocks are rebounding well on a strengthening US Dollar, which is helping to drive Oil prices down. Mortgage Bonds are positive again today, and are attempting to break through pricing resistance at their 25 day average.
The Stock Market seems attached at the hip to Oil pricing … (0 comments)
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interest rates: Market Update 07-09-2008 - 07/09/08 11:57 AM
US Stocks came out of the gate strong with the Dow up as much as 150 points early, but are now negative. Mortgage Bonds have been positive, building steadily on yesterday's finish.
Wall Street looked to be in a position to post solid gains at the opening, as better than expected earnings … (0 comments)
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interest rates: Market Update 07-07-2008 - 07/07/08 02:01 PM
After beginning the day up by nearly 100 points, the Dow is now leading all 3 indexes significantly lower. Mortgage Bonds responded to the initial Stock rally by losing almost 50bp, but have swung back to initial price levels as Stocks falter.
The US Stock Market took off this morning on … (0 comments)
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interest rates: National Average of Mortgage Rates - 07/03/08 07:27 PM
I never like to give out "average" mortgage rates since there are literally dozens of variables that can effect the rate for an individual's loan. However, I get a minimum of 2 to 3 requests per day from realtors who "need to know" what to tell their client when the subject … (2 comments)
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interest rates: Market Update 07-02-2008 - 07/02/08 11:36 AM
US stocks began the day building on yesterday's strong finish, but are now down across the board. Mortgage Bonds responded well to lower than expected jobs numbers, but have also retreated.
Stocks were in the black for the first couple hours of trading, despite the ADP employment report showing higher than expected job … (0 comments)
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interest rates: Market Update 07-01-2008 - 07/01/08 01:06 PM
US Stocks are once again moving lower, and we are now "officially" in a Bear Market (a 20% decline within 12 months). Mortgage Bonds are down after early gains, currently trading at unchanged levels.
Stocks began the day under continued heavy selling pressure, but got a bit of a reprieve when … (0 comments)
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