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interest rates: Where do Interest Rates have left to go? - 03/26/10 12:06 PM
So what comes next for Interest Rates, and the housing industry?
This is the $64,000 question (actually given today's hyper spending maybe that should be $64 Million Question). The last couple days have seen a significant spike in interest rates, and there are a number of reasons, but they all eventually come back to the overspending by our government. Specific to this week is the health care bill, and with it comes some fairly stark world opinion of the passage of this plan. While the Obama administration, and the Democrat party are selling the American public on the idea that this … (7 comments)
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interest rates: Employment/Labor recovery expected to be slow - Really?! - 01/08/10 07:09 PM
Today the Fed released the notes from their most recent meeting. I find the most telling statistic found in their report to be the decline in consumer credit usage. "Consumer credit decreased at an annual rate of 8-1/2 percent in November. Revolving credit decreased at an annual rate of 18-1/2 percent, and non-revolving credit decreased at an annual rate of 3 percent." - http://www.federalreserve.gov/releases/g19/Current/ This is the single largest drop in consumer credit spending since 1943, when the Fed first started keeping these statistics!
We are told that economic recovery is dependent on consumer spending in America which is why … (10 comments)
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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% decline for October, the biggest drop in 28 years. This marks the 4th consecutive month of declining sales volume, which has not happened since 1974. While the decrease should not come as a shock to anyone, it was more than economists were expecting, and is representative of the largest month … (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 point gain before succumbing to what have become ongoing worries over the global economic outlook. The mood was enthusiastic from China's announcement of a $586 Billion internal stimulus package of their own. Beijing is planning on spending roughly 15% of their country's GDP on infrastructure upgrades in an effort to stimulate … (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.
Stocks are taking the news of the nation's worst reported output in 26 years pretty well in stride as the Dow has spent the majority of the day in positive territory. The Institute of Supply Management (ISM) Index which tracks purchasing managers across most of the country's manufacturing sectors … (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 went the first part of the day mostly positive, but the focus turned negative toward the afternoon with declining stocks outnumbering gainer's by 5 to 1. The negative view came into focus with this morning's release of the Labor Department's Jobless Claims which increased by more than expected. 478,000 people … (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 as investors look to sell in a Market with few buyers. There are no economic reports to give the Market any direction today so investors must focus on corporate earning which have been as gloomy as predicted. Not all the news was bad, McDonald's ( a Dow component) reported an … (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 plus or minus 10bp range most of the day.
Stocks have faced heavy pressure through out the day as the focus has shifted from headline news to actual earnings reports, and corporate outlooks. The biggest loser in today's Market has been the Technology Sector. Both Sun Microsystems, and Texas … (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 in a long time where its Stocks never ventured into negative territory. In testimony today, Chairman Bernanke endorsed a 2nd Stimulus, stating "a fiscal package by the Congress at this juncture seems appropriate." This seems as much an admission that Central Bank monetary policy alone is not enough to fix … (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 day in a row.
Stocks began the day on the down side when we received more bad news from the housing sector. The Commerce Department reported housing starts declined by 6.3% in September bringing the annual rate to its lowest since early 1991. The current construction pace of new … (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 gains to push mortgage rates better by as much as .25%.
Stocks rallied to start the day on positive news regarding inflation from the Consumer Price Index, but nose dived shortly after receiving more bad news from the manufacturing sector. Today's CPI numbers showed better than expected results with overall … (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 due to actual economic, and earnings reports rather than fear. On the positive side Intel, and Coca Cola posted increased profits for the 3rd quarter, and their stock is up. In the financial sector, JP Morgan and Wells Fargo both reported significant declines in quarterly profit, but their stocks are up … (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 investor's exuberance over further announcements by the US government to invest $ Billions directly into some of the country's largest banks. The plan is much the same as the one announced by England last week where the government will temporarily buy stakes in several major banks in order to recapitalize the Financial … (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 across the board buying, leading to the Dow's largest intraday gain in history. After a weekend that saw a flurry of government activity aimed at increasing confidence in the banking, and credit markets, all three major indexes have risen as much as 7%. General Motors has seen increases of over … (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 in the first 8 minutes of trading. Mortgage Bonds did not fare any better, losing 109 bp, and falling well below what were previously considered strong levels of support.
The Dow rebounded briefly to positive territory in an afternoon rally, but by the end of the day, stocks were back … (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 Globally, Stocks rebounded in other markets. Yesterday's coordinated rate cut by many of the World's Central Banks (except Japan) was generally well received, but the Dow still crashed at the end of the day, posting another significant loss. The US Treasury is floating a possible plan to take an ownership … (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 start the Market. Just before today's trading opened, the Fed officially announced they would buy unsecured "Commercial Paper" by creating the Commercial Paper Funding Facility (CPFF). The Fed hopes this facility can help prevent further disruptions to the economy by helping companies with their day to day operations such as financing payroll, … (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 to 1 ratio versus gaining issues on the New York Stock Exchange as the Dow has fallen below 10,000 for the first time in 4 years, despite last week's $700 Billion financial bailout. Regardless of the bailout, we will still see more bank failures to come, such as demonstrated by Wachovia … (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 the bailout continues to ebb and flow. While it seems imminent that there will be some form of bailout, the uncertainty over the form it will take is causing the Markets to pause. A group of economists that includes 3 Nobel Prize winners has urged Congress to not act out … (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 as Stocks gain momentum.
Once again it's all eyes on Washington as Stocks spike higher in anticipation of the proposed $700,000,000,000 bailout for Wall Street. The Rally by Stocks flies in the face of today's economic news. Today's economic calendar shows three significant reports, all of which indicate negativity … (3 comments)
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Ron Brown FHA & VA Home Loan Specialist
Puyallup,
WA
More about me…
Pinnacle Mortgage Planning
Address: 33915 1st Way S. , suite 100, Federal Way, WA, 98003
Office Phone: (253) 520-0000
Cell Phone: (253) 520-0000
Email Me
The views, and opinions expressed here represent the personal views, and opinions of Ron Brown. They are not necessarily the views of First Mortgage Company, and should not be construed as being so. They are for informative purposes only, and any persons reading them are encouraged to research there current relevance, and timeliness before taking any action.
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