va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: 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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va loans: Market Update 09-16-2008 - 09/16/08 02:56 PM
Another roller coaster day for Stocks as they are rallying to end the day on a positive note. Mortgage Bonds have struggled throughout the day against overhead resistance, and have moved towards support levels.
After yesterday's selloff, Stocks have been looking for a reason to rally. The day does have … (0 comments)
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va loans: Market Update 09-15-2008 - 09/15/08 12:48 PM
US Stocks have been down since the opening bell, with the Dow off by nearly 300 points the majority of the day, as Financial Sector headlines far outweigh any other information in the Market. Mortgage Bonds are benefitting from investor's "flight to Quality", and are challenging recently established pricing resistance.
… (3 comments)
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va loans: Market Update 09-12-2008 - 09/12/08 12:57 PM
US Stocks are trading slightly to the downside as concerns over the Financial Sector once again dominate the headlines, and Retail Sales fail to meet expectations. Mortgage Bonds have been the recipient of friendly economic reports overall, but are still flat, unable to break above pricing resistance.
It is all … (0 comments)
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va loans: Market Update 09-10-2008 - 09/10/08 03:12 PM
US Stocks are trending up as the Dow is now up over 100 points on what has been a bit of a seesaw day. Mortgage Bonds are experiencing some pressure from the gains in equities, and are down some for the day, but still trading above support levels.
Once again … (0 comments)
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va loans: Market Update 09-09-2008 - 09/09/08 01:12 PM
US Stocks are down in today's trading as pending home sales showed a decline in July, and financial concerns return as Lehman's talks with Korean Development Bank break down. Mortgage Bonds are still trading to the upside, and the gap between MBS & Treasuries continues to tighten.
After experiencing their largest … (0 comments)
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va loans: Market Update 09-08-2008 - 09/08/08 01:10 PM
Everybody seems happy today with both Stocks, and Mortgage Bonds trading well into the Black after this weekend's headline news of the government's bailing out mortgage giants Fannie Mae, and Freddie Mac.
The Dow Jones was up by 340 points in the first hour of trading today after the news broke Sunday that … (1 comments)
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va loans: Market Update 09-05-2008 - 09/05/08 02:43 PM
US Stocks have regained their footing after an initial drop of more than 100 points by the Dow. Mortgage Bonds are struggling to maintain the momentum of the last three days, but are still well above the support of their 200 day average.
Today's report from the Labor Department pressured … (1 comments)
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va loans: Market Update 09-04-2008 - 09/04/08 01:33 PM
US Stocks are significantly in the red today after a surprise spike in jobless claims, and concern over slowing economic growth, both in the US, and Globally. Mortgage Bonds are positive on lower inflation concerns, and increased productivity reports.
The Labor Department released their Initial Jobless Claim report showing an increase … (0 comments)
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va loans: Market Update 09-03-2008 - 09/03/08 03:11 PM
US Stocks are trading mostly sideways, but are leaning to the downside despite a positive read on the Manufacturing sector. Mortgage Bonds are following suit, but have managed to stay above resistance, and even post slight improvements.
Stocks are mostly to the negative on perceived overall weakness in the global … (0 comments)
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va loans: Market Update 09-02-2008 - 09/02/08 02:25 PM
US Stocks came out of the gate strong after the holiday weekend, celebrating the lack of impact Hurricane Gustav had on Oil production, and cheering a possible Capital influx to Lehman Brothers. Mortgage Bonds fell in early trading, but have regained momentum, and are currently above their 100 day average.
… (1 comments)
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va loans: Market Update 08-29-2008 - 08/29/08 12:56 PM
US Stocks are down across the board on mixed economic news, and persistent inflationary trend. Mortgage Bonds have given back much of yesterday's gains, but are still trading at their 100 day average.
Stocks took their cue from the Personal Consumption & Expenditure (PCE) measure of inflation which came in with its … (0 comments)
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va loans: Market Update 08-28-2008 - 08/28/08 12:18 PM
US Stocks got a huge boost today on revised GDP numbers, and the Dow is now up nearly 200 points. Mortgage Bondshave held fairly steady most of the morning, despite this economically friendly news, but are facing pressure as capital flows toward Stocks.
Stocks are up across the board as the government … (1 comments)
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va loans: Market Update 08-27-2008 - 08/27/08 01:16 PM
US Stocks are posting solid gains with the Dow up over 100 points on the strength of a much better than expected Durable Goods report. Mortgage Bonds are also positive for the day, which is an abnormal reaction to the positive Durable Goods numbers.
Stocks are taking a positive cue … (1 comments)
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va loans: Market Update 08-26-2008 - 08/26/08 03:07 PM
US Stocks are enduring a See Saw day on light volume trading, and more mixed message economic reports. Mortgage Bonds are positive for the day, but have mimicked the up & down day of Stocks.
Stocks got some welcome news early when the University of Michigan Consumer Sentiment Index showed … (1 comments)
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va loans: Market Update 08-25-2008 - 08/25/08 01:14 PM
US Stocks are dropping significantly today as the Dow is down over 200 points with all 30 of it components having gone negative. Mortgage Bonds are enjoying the benefit of some of this capital "fleeing to safety", and landing in Bonds.
Stocks are retreating from last Friday's gains, weighed down … (1 comments)
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va loans: Market Update 08-22-2008 - 08/22/08 01:50 PM
US Stocks are on a strong rally today as Oil prices fall back, and Fed Chairman Ben Bernanke eases inflations fears. Mortgage Bonds are struggling to hold their recent gains against the flow of capital toward Stocks.
Stocks are posting strong numbers with the Dow currently up by close to … (0 comments)
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va loans: Market Upate 08-21-2008 - 08/21/08 01:01 PM
US Stocks are trading mostly in the negative on more concern over the fate of Fannie, and Freddie, as well as the Financial Sector, plus a sharp rise in Oil. Mortgage Bonds began the day up from yesterday's strong gains, but are currently lower after this morning's chaotic trading.
Stocks are on … (0 comments)
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va loans: Market Update 08-20-2008 - 08/20/08 12:21 PM
US Stocks have reversed course, and turned positive for the day as higher inventory levels of Crude Oil push back futures pricing, and HP posted strong gains for the Tech sector. Mortgage Bonds have broken above their 50 day moving average, and are trading near their best levels in over a month.
… (2 comments)
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va loans: Market Update 08-19-2008 - 08/19/08 01:06 PM
US Stocks are trading in the red again today on continuing credit concerns, weak housing data, and increased inflation at the wholesale level. Surprisingly, Mortgage Bonds are mostly flat again today, having held on to Friday's gains through Monday despite encountering technical resistance at the 50 day average.
Stocks are continuing … (0 comments)
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va loans: Market Update 08-18-2008 - 08/18/08 11:46 AM
US Stocks are down on the day over general economic uncertainty, despite declining Oil prices. Mortgage Bonds are mostly flat, trading in a very tight range between their 25, and 50 day moving averages.
Stocks ended last Friday mostly higher on the strength of giant bond insurer's MBIA, and Ambac regaining their … (1 comments)
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va loans: Market Update 08-14-2008 - 08/14/08 02:09 PM
After stumbling out of the gate, US Stocks have recovered, and are solidly positive on the day despite a disappointing Labor report, and higher than expected inflation. Mortgage Bonds also seem to be immune from inflation's sting, trading in a tight range, and slightly up for now.
Stocks are ignoring … (1 comments)
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va loans: Market Update 08-13-2008 - 08/13/08 12:04 PM
US Stocks are falling hard, with the Dow down by triple digits (only 6 of the 30 components are trading positive), on continuing fear of the Financial Sector's health, and poor Retail Sales. Mortgage Bonds are reacting positively, but face strong overhead resistance.
Today's Retail Sales numbers came in better than expected, … (2 comments)
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va loans: Market Update 08-12-2008 - 08/12/08 01:41 PM
US Stocks opened the day on the down side on another round of bad news from the Financial Sector, and worries about Oil supplies due to the Russia/Georgia conflict. Mortgage Bonds began the day on the plus side, but don't seem to be gaining much momentum.
Today marks the end of the … (0 comments)
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va loans: Market Update 08-11-2008 - 08/11/08 11:33 AM
After starting the day in the red US Stocks are turning positive as they try to continue last week's rally. Mortgage Bonds began the day up against the technical resistance of their 25 day average, and have been pushed back once again.
There are no economic reports on tap for … (0 comments)
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va loans: 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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va loans: Market Update 08-07-2008 - 08/07/08 12:10 PM
US Stocks are downfor the first time in three days on poor retail performance, increases to Jobless numbers, and a large loss by monoline insurer AIG. Mortgage Bonds are positioned well for gains, after bouncing off support lows yesterday.
Stocks appear to be crashing from their sugar high that started … (0 comments)
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va loans: What the Fed Statement Really Says - 08/06/08 09:37 PM
Yesterday the Federal Reserve Board held their regular meeting where they decide the fate of much of our countries economic direction. As expected, they decided to take a wait and see approach for a little longer, and kept the Federal Funds Rate at 2.0%. Since the Markets had already predicted a … (5 comments)
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va loans: Market Update 08-06-2008 - 08/06/08 01:29 PM
US Stocks stumbled out of the gates with the Dow falling nearly 100 points in the first hours of trading, but have regained their footing, and are nearly flat for the day. Mortgage Bonds have not faired so well, opening even lower than yesterday's finish.
Tuesday, the Stock market had … (0 comments)
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va loans: Market Update 08-05-2008 - 08/05/08 11:46 AM
US Stocks are rallying as the Dow is now up over 200 points on the day. Mortgage Bonds are in a wait and see mode ahead of the Fed's rate decision, due out a few hours from now.
Stocks are surging higher on falling commodity prices, and strengthening of the US … (0 comments)
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va loans: Market Update 08-01-2008 - 08/01/08 11:57 AM
US Stocks opened positive for the day on lower than predicted unemployment, but have fallen into the red as Oil prices increase, and GM posts worse than expected losses. Mortgage Bonds have managed to stay fairly flat, trading within a tight range near yesterday's finish.
The Stock Market began the day trading … (1 comments)
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va loans: Market Update 07-31-2008 - 07/31/08 12:24 PM
US Stocks are mostly down, with the Dow off by well over 100 points, after today's Jobless Claims Report, and lower than expected growth in GDP. Mortgage Bonds are benefitting from the bad news, and are trading above previous pricing resistance.
Yesterday we heard rumors, and expectations that GDP could … (1 comments)
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va loans: Market Update 07-30-2008 - 07/30/08 01:34 PM
US Stocks started the day strong following yesterday's rally, but are starting to lose steam. Mortgage Bonds opened the day lower once again, but have picked back up to a positive status.
Stocks received a positive surprise in today's ADP Employment report which showed an increase in private sector jobs … (1 comments)
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va loans: Market Update 07-29-2008 - 07/29/08 01:08 PM
US Stocks are rebounding strongly from yesterday on dropping Oil prices, increased consumer confidence, and good news from earnings reports. Mortgage Bonds seem to be funding this, and have given back nearly all of their recent gains as a result.
The Dow is currently driving upwards towards an intraday gain … (1 comments)
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va loans: Effects of the Housing & Economic Recovery Act on FHA!! - 07/29/08 12:00 PM
The Senate just passed overwhelmingly the omnibus Housing bill (Housing and Economic Recovery Act of 2008) by a vote of 72-13. The President is expected to sign the Bill into Law early next week.
The bill is 694 pages, and obviously there is a LOT of change taking place!
The Highlights … (0 comments)
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va loans: Market Update 07-28-2008 - 07/28/08 11:30 AM
US Stocks began the day on the down side, and all three indexes have slid further negative in the first hours of trading. Mortgage Bonds are playing the role of beneficiary experiencing pricing gains of 50bp, or more.
Stocks are feeling pressure from a possible increase in Oil pricing, more … (1 comments)
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va loans: Bio for Ron Brown - Washington State Home Loans - 07/24/08 12:06 PM
Why Ron Brown & First Mortgage?
It is all too easy for members of my industry to "go through the motions" of another file, forgetting how fear of the unknown can bring stress to our clients. One of First Mortgage's mottos is - "it's not about files, it's about Families." I … (0 comments)
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