mortgage bonds: How to find a good lender - 07/19/08 02:47 PM
HERE'S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues … (6 comments)
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mortgage bonds: Interest Rates - 07/18/08 11:53 AM
I have been telling everyone that would listen that "NOW" is the time to buy the house you want. Interest rates are great, prices have leveled off or dropped a bit (in the Eugene area), and even if the price on a $250,000 home dropped another $10,000, a rate change of … (5 comments)
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mortgage bonds: A Week of Rising Rates - 07/18/08 09:01 AM
Mortgage Bonds have traded lowered for 4th straight session today losing just shy of 200 basis points over that period. To get a rate quoted on Monday a client would now have to pay 2 points on their loan if they did not lock and wanted that , that is scary.
… (0 comments)
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mortgage bonds: The Crisis of Confidence - 07/13/08 09:03 PM
The Crisis of Confidence....that's probably the best way to describe it.
Friday was a crazy day in the financial markets being headlined by the potential failure of the government sponsors agencies (GSEs), Fannie Mae and Freddie Mac. At the start of Friday it was reported the government could take over these agencies over … (2 comments)
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mortgage bonds: Fannie & Freddie Bail Out - 07/13/08 06:38 PM
I would like to take credit for this information, but I found it while reading another blog. I have to give Matt Heaton credit for coming up with this information on a Sunday. That is dedication. Here is a link to his blog:
http://www.activerain.com/blogsview/591574/Treasury-announces-their-Fannie
He has two other links to Financial … (1 comments)
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mortgage bonds: Mortgage Rates mixed from last week, down from last year - 07/10/08 01:50 PM
According to one of my information programs fixed mortgage rates are down slightly this week over last week while adjustables are up slightly to no change. At the same time, both of them are down substantially from last year at this time.
Continued pressure on the economy may continue to … (1 comments)
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mortgage bonds: Bond News - 07/09/08 11:25 AM
Mortgage bonds are trading higher again today. This is the 3rd straight day that we have seen an improvement in mortgage backed securities. Today's improvement is due in part in response to the tension in the Middle East. Iran test fired 9 medium to long range missles. This caused a slight rebound … (1 comments)
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mortgage bonds: Mortgage Market Update for Wednesday July 9th, 2008 - 07/09/08 06:13 AM
Bonds have been on a wild ride this week trading significantly lower until a sharp turn around Monday afternoon followed by a big rally yesterday, opening at their low and closing just off their high. The 30 year fixed rate is at it's best level in just over a month.
Bonds and stocks … (0 comments)
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mortgage bonds: FOMOC June Meeting - 06/27/08 12:43 PM
The Federal Reserve stopped lowering the discount rate at their June meeting and left the door open for raising the rate at their next meeting in August.The futures players are betting on a .25% increase at the next meeting. Kind of like Las Vegas, isn't it? However, the Fed did not use their … (0 comments)
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mortgage bonds: Mortgage Market update June 19th, 2008 - 06/19/08 09:49 PM
Rates were down modestly today 22 bps on the day. Bonds tested both the closest support and resisitance levels and closed right in the middle of it....meaning we are in another tug of war with the bulls and the bears going into next week's Fed meeting. From a technical standpoint bonds are … (2 comments)
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mortgage bonds: Mortgage Rate Update for June 17th, 2008 - 06/17/08 05:26 PM
CPI was in line with expectations and PPI was a bit hotter this morning. Mortgage Bonds seems to have drawn a line in the sand for now and are attempting a reversal. We finished up 50 bps on the day closing right inbetween a dual layer of resistance. Bonds are also … (2 comments)
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mortgage bonds: Mortgage Market Update for June 16,2008 - 06/16/08 09:50 AM
Mortgage backed securities are trading flat on the day down just 3bps this morning. Bonds have been in a downward trend for the last 2 weeks and rates have crept up .75% higher nearing 7.00%.
The recent pressure on bonds are due to the pressure the heightened inflation concerns of the market. The … (0 comments)
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mortgage bonds: Market Update for June 10th, 2008 - 06/11/08 07:28 AM
On a technical note, mortgage bonds are down 5 straight session at 216 bps points....rates have rose to the 6.625% area on a conventional 30 year fixed. Bonds are oversold, which generally indicates that the buyers will be back and drive prices back up. When bonds drop suddenly they … (0 comments)
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mortgage bonds: Mortgage Rate Update for June 5th, 2008 - 06/05/08 11:08 AM
Mortgage Bonds are down again today after breaking through the 200 day moving average yesterday afternoon. Initial jobless claims where lower than expected this morning and the umemployment rate is released tomorrow and given the inconsistentcy of this number recently we will remain in a LOCK. Should be a big … (0 comments)
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mortgage bonds: Mortgage Market Update for June 4th, 2008 - 06/04/08 09:19 AM
Mortgage Bonds are trading lower this morning and surprise, surprise they are sitting right on the 200 day moving average. On Monday bonds broke through and closed above the 200 DMA and did trade below it yesterday but closed in positive territory at the end of the trading day. Technically … (0 comments)
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mortgage bonds: Mortgage Rate Update for June 3rd, 2008 - 06/03/08 08:25 AM
Mortgage bonds are trading -6 bps this morning with no economic data on the docket for today. Fed chairman Bernanke is speaking this morning about the economy and he could move markets, other than that bond trading will be driven by the stock market (stocks up bonds down vice versa)
… (2 comments)
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mortgage bonds: Another one, Another one, Another one bites the dust - 06/02/08 11:49 AM
Wachovia ousts CEO for a dismal year laying the blame on his for their sub-prime woes. The board of directors fired CEO Ken Thompson for a string of loses and bad decsions to buy a home lender at the height of the housing boom. I guess we all make bad decisions to … (0 comments)
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mortgage bonds: Mortgage Rate Update for June 2nd, 2008 - 06/02/08 07:43 AM
Mortgage bonds are up 22 bps this morning. After the selloff Friday afternoon, pricing should be right inline with the Friday morning rate sheets. Just 9 bps higher and bonds hit the strong resistance level at the 200 day moving average. Wait and see what rates do after the ISM number is released … (1 comments)
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mortgage bonds: What's happening to rates? - 05/29/08 01:15 PM
An absolutely invaluable resource to us at January Financial is the daily emails we get from Barry Habib at the Mortgage Market Guide. If any brokers or loan officers out there are reading this, we highly recommend this resource!
Barry analyzes the market through various technical indicators and economic reports, helping … (2 comments)
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mortgage bonds: Mortgage Rate Update for May 29th - 05/29/08 11:15 AM
Well so much for hoping rates would stay above the 200 day moving average as I hoped ina blog post last night: May 28th Mortgage Bond Chart
Bonds gapped open lower today by a negative 31 bps. We are now down 75 bps are should lock everything under the sun … (0 comments)
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mortgage bonds: May 28th Mortgage Bond Chart - 05/28/08 06:27 PM
Today I posted my mortgage market update for the day and recommended to FLOAT because we had tested a key level of support at the 200 day moving average which we did bounce off. Just after 1pm, bonds did fall through that support and I changed my bias to a LOCK position, so I updated my blog to … (0 comments)
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mortgage bonds: Mortgage Rate Update for May 28th - 05/28/08 08:58 AM
Durable goods orders were released this morning for April coming in better than expected at -0.5%. The estimate was -1.5%. Durable goods are manufacturing goods that are expect to last at least three years. Usually a better than expected number means that companies are spending extra capital on equipment for future growth and the economy … (1 comments)
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mortgage bonds: Mortgage Market Update May 27th, 2008 - 05/27/08 09:37 AM
Well Consumer Confidence just hit the wire for the month of May at 57.2 missing estimates of 61.0, meaning consumers are losing confidence faster than expected. New home sales beat expectations by 6,000 and increased over last month by 17,000. Although this is positive, new home sales account for just … (2 comments)
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mortgage bonds: Friday's update - 05/23/08 11:03 AM
Happy friday! Some good news today as Mortgage Bonds seem to be stabilizing; however, still have a decent amount of making up to do.
Existing home sales beat expctations of 4.85 mill. coming in at 4.89mill; although down from April's 4.94 million. The unsold homes inventory was reported to be a … (0 comments)
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mortgage bonds: Market Update May 23rd -Existing Home Sales - 05/23/08 10:54 AM
This morning Existing Home Sales were released and came in slightly better than expected. 4.89 mil v 4.85 mil. But still on a downward trend year or year. The US is off 17.5% in seasonally adjusted sales year over year and 8% in price during the same time frame. The most … (0 comments)
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mortgage bonds: Mortgage Rate Update May 22nd - 05/22/08 07:54 AM
This morning's initial jobless claims came out slightly better than expected 365k v 370k. The stock futures are taking the news as a positive and money will move out of bonds and into stocks. The DOW lost a decent amount over the past 2 days so expect a good day for … (1 comments)
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mortgage bonds: Fed Minutes Summary - 05/21/08 01:46 PM
The Federal Open Market Committee released their minutes from their April meeting at 2pm today
Here are the highlights:
They lowered their growth forecast of the economy slightly over the next few years.
They expect higher inflation and unemployment in 2008 and 2009.
They believe "risk is receding" in the credit … (1 comments)
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mortgage bonds: MOrtgage Rate Update May 21st - 05/21/08 10:11 AM
This morning's mortgage bonds are off about 20 bps. Bonds are still sitting above a strong level of support at the 100 and 50 day moving averages so I recommend to FLOAT for now.
This afternoon the much anticipated Fed Minutes are released at 2pm. In these minutes we will discover how the … (0 comments)
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mortgage bonds: PPI released, mixed numbers - Mortage Rate update for May 20th - 05/20/08 08:51 AM
PPI, producers price index, was released this morning and was tamer than expected at 0.2%. The street was expecting 0.4%, however core PPI (ex food and energy) was hotter 0.4% than expected 0.2%. Stock are reacting negatively to this news on the open and mortgage bonds so far are up 16 bps … (0 comments)
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mortgage bonds: Mortgage Bonds: Bulls v. Bears - Week of May 19th Interest Rate Update - 05/19/08 07:46 AM
The mortgage bond market lost some momentum going into this past weekend. The bulls and the bears are battling at a key support / resistance level. It is interesting to watch the bond market in real time put up a fight when it approaches these levels. On Friday morning it looked … (3 comments)
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mortgage bonds: May 16th Rate update - House Starts / Building Permits - 05/16/08 07:52 AM
The bond market had a nice close to the day yesterday up 72 bps on the day but above key level of resistance. In order to confirm that rise we needed some momentum going into today's open. Well we did not get that and we are slightly below that level of … (2 comments)
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mortgage bonds: Mortgage Rate Update May 15th - 05/15/08 12:50 PM
Rates are looking good today after a rough afternoon mortgage bonds bounced off the 200 day moving average and are up modestly today. Initial jobless claims came in a bit higher than expected which is good for bonds and bad for stocks (points to recession confirmation). Empire State Index was worse … (3 comments)
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mortgage bonds: Market Update Wednesday, April 23, 2008 - 04/23/08 01:59 PM
Current Price of FNMA 5.5 Bond : $100.38, -25bp
Mortgage bond prices are weaker this morning pushing mortgage interest rates higher.Since there is no data today, stocks and oil prices will likely dominate trading. Increasing food costs as well as consistently high oil prices cause inflation concerns. Stocks have closed negative the past … (3 comments)
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mortgage bonds: Rates, Rates, Rates...Where Art Thou Going??? - 04/15/08 03:09 PM
My hope is to shed a little light on why mortgage rates go up/down and to better equip you to see through all of the smoke and form your own opinion as to "how mortgage rates are doing."
Inflation (rising prices) is ARCH-ENEMY #1 to mortgage rates:
Inflation UP = Mortgage Rates UP
Inflation DOWN = Mortgage … (3 comments)
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mortgage bonds: Why are mortgage rates rising? - 03/03/08 09:24 AM
After several prime rate reductions mortgage rates are rising - again!
The federal funds & prime rate are not the benchmark for mortgage rates. 10 year treasury bonds are said best because mortgage loans are held for this period on average. Most mortgages are bundled & sold as mortgage bonds/securities on … (0 comments)
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mortgage bonds: A good day for Mortgage Bonds (so far) - get to know someone who knows! - 02/28/08 12:09 PM
It looks like we're heading for what could be another great dip in mortage rates. With all the volatility we've seen in recent months, there are great opportunities to succeed, as well as great opportunities to screw up. It all depends on who is doing the deciding. Any loan officer, whether … (0 comments)
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mortgage bonds: Up and down round and round - 02/27/08 03:12 PM
Volatility
Well, if you like volatility this week you must be loving the bond market (rates). Yesterday, we had not one but two alerts that there may be a intra-day reprice for the worst and today we have had one for the better. Isn't it nice to know that there is a Mortgage … (0 comments)
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mortgage bonds: Rates, rates, rates what is going on with rates? - 02/26/08 12:16 PM
Let's just throw out the adjustable rates for now, clients are scared, and no one wants them fixed rates are usually a better or very close the same rate anyway, except for maybe the 3/1 ARM because of the inverted or flat yield curve(what ever those are) so I won't speak of them.
How are mortgage rates … (16 comments)
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mortgage bonds: What Is Mortgage Management? Pt. 1 - 02/24/08 10:14 PM
**Click Here to See The Original Post on WealthWithMortgage.com**
I'm often asked about what makes Four Legacies Mortgage and myself any different from our countless competitors. The truth of the matter is, I don't like the answer 'our advice is better or more timely or that we are more professional than the … (0 comments)
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mortgage bonds: This week in rates - TWIR - 02/22/08 07:41 PM
If you are the kind of person that like volatility then the past couple weeks have been all you. I have seen dramatic swings this week that remind me of a playground with kids swinging back and forth on the swingset. Yesterday, we saw the bonds get back what it lost … (1 comments)
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mortgage bonds: Don't Be Surprised That Rate Cuts = Higher Mortgage Rates - 02/10/08 11:48 PM
**Click Here to See the Original Post on WealthWithMortgage.com!**
With frequent talk of cutting the Fed Funds Rate (FFR) going forward, I figure it's a pretty good time to discuss the effects of a Fed Cut and the translation into mortgage rates. Often, this is a very misunderstood subject, and rightfully so. There just … (2 comments)
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mortgage bonds: The Week in Review (December 10, 2007): What to Watch For - 12/10/07 02:13 PM
Among lingering doubts about housing and credit markets, and a general uncertainty about the U.S. economy, the mortgage bond market tanked towards the latter part of last week.
As investors moved away from mortgage bonds, mortgage rates forcefully bounced off their two-year lows.
A major factor behind last week's … (1 comments)
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mortgage bonds: Mortgage Market Update as of Thursday, November 15th - 11/15/07 01:17 PM
GOOD THURSDAY AFTERNOON!!!
ONE MORE WEEK TILL THANKSGIVING?!?!?!?!?? How this year is flying by!
I hope everyone is having a FANTASTIC day. Yesterday's temperature was a beautiful 55'ish...and today is a cold, rainy, snowy mix at 30 degrees. WELCOME TO MICHIGAN!
Mortgage Bonds are trading higher, currently at +19 basis points, after this morning's … (2 comments)
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mortgage bonds: Mortgage Market Update as of Wednesday, November 7th - 11/07/07 03:36 PM
GOOD Hump Day TO ALL!
Bonds are closing out today flat, currently at ZERO, so there wasn't a change in mortgage rates today.
Stocks were punished this morning. Leading the way down was a nasty earnings report from General Motors (GM), who announced a shocking third quarter loss of $39 Billion, which … (0 comments)
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mortgage bonds: Treasury Bonds and Mortgage Rates are NOT Related??? WHAT??? - 10/25/07 04:39 PM
We all have heard the financial media presenting information on the bond markets continually make erroneous assumptions about the relationship of mortgage interest rates with US Treasury Bond and Note prices. This happens because these financial reporters may understand the bond markets in general, but they are not mortgage experts and … (1 comments)
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mortgage bonds: How the Stock Market is Directing Traffic for Mortgage Rates - 10/24/07 02:22 AM
As we talked about Monday, the stock market appears to be directing traffic for the bond market.
Monday was a flat day for stocks, and it was a flat day for bonds, too. Mortgage rates idled.
Tuesday, with no economic data hitting the wires, market participants looked for direction … (1 comments)
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mortgage bonds: The Week in Review (October 22, 2007) : What to Watch For - 10/23/07 06:23 AM
Rising oil prices, weak housing data, and ongoing credit concerns pushed mortgage rates lower last week as investors sought safety for their dollars. Stock markets took losses and bond markets -- including mortgage bonds -- booked gains. Remember, when mortgage bonds go up in price, mortgage rates come down. To understand … (2 comments)
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mortgage bonds: How Japan and China Can Impact the Mortgage Rate on Your Home - 10/17/07 09:33 AM
Mortgage rates are determined by the prices of mortgage bonds; this, we've covered before. As bonds prices go up, bond rates come down.
And the price of a mortgage bond is a matter of Supply and Demand.
The greater the demand for a bond, the higher its price. High … (3 comments)
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mortgage bonds: Mortgage Bonds appear to be singing, "I Can't Get Enough of Your Love Babe" - 10/13/07 08:04 PM
… (0 comments)
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mortgage bonds: The Week In Review (October 9, 2007) : What to Watch For - 10/09/07 03:58 PM
As expected, the big news last week was the Non-Farms Payroll report. What wasn't expected, though, was the strength of the report. Mortgage rates ended the week on a large up-tick.
110,000 jobs were created in September, according to the Bureau of Labor Statistics. This exceeded Wall Street expectations by … (1 comments)
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mortgage bonds: Measure Tiwce...Cut Once - 09/22/07 10:33 PM
… (0 comments)
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mortgage bonds: The Week In Review (September 10, 2007) : What To Watch For - 09/10/07 09:30 AM
Weak employment data pushed mortgage rates lower last week. Against expectations of 110,000 new jobs created in August, last Friday's Non-Farm Payrolls report showed a loss of 4,000 jobs.
The story made headlines all over the country this weekend but its connection to mortgage rates is not always clear. Here's how … (2 comments)
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mortgage bonds: The Week In Review (September 4, 2007) : What To Watch For - 09/04/07 11:55 AM
Federal Reserve Chairman Ben Bernanke took to the pulpit Friday in Jackson Hole, but his remarks made little impact on mortgage bond trading.
The Fed is aware of economic issues related to housing and mortgage debt, Bernanke said.
He implied that the Fed wants more evidence that inflation has slowed … (5 comments)
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mortgage bonds: How The Stock Market Rally Changed Mortgage Pricing For The Worse - 08/30/07 09:12 AM
Mortgage rates unexpectedly increased yesterday afternoon as the U.S. stock market staged a late rally.
By the end of the day, the Dow Jones Industrial Average (DJIA) was up 1.9 percent, or 247.77 points.
This is a typical pattern.
When stocks are moving higher, investors want to ride the … (6 comments)
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mortgage bonds: Mortgage Bonds got some good inflation news - 08/15/07 12:43 PM
Mortgage Bonds got some good inflation news by way of the Consumer Price Index: the CPI for July was reported at 0.1%, and the more closely watched Core CPI at 0.2%. The Report was in line with expectations and suggests that Core Inflation is stable to moderating. This is good news … (1 comments)
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mortgage bonds: What's The True Risk In Mortgage Lending? It's Anyone's Guess Right Now. - 08/12/07 05:46 PM
Any security -- stock, bond, or otherwise -- has a specific risk associated with it. Based on that risk, an investor decides whether or not the price is worth paying. If the security is a "good value", an investor will buy it. If not, the investor will pass.
Until recently, mortgage … (2 comments)
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mortgage bonds: The Week In Review (June 18, 2007) : What To Watch For - 06/18/07 09:33 AM
After a tame Consumer Price Index report Friday, mortgage bonds staged a brief rally and rates retreated slightly.
Earlier in the week, mortgage rates were at their highest point in almost a year.
Unfortunately for rate shoppers, mortgage investors are behaving like Dr. Jekyll and Mr. Hyde right now. One moment, they … (0 comments)
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mortgage bonds: Without Love, You Have Nothing - 06/12/07 10:04 AM
I know those of you reading the headline think I am about to go off on an emotional trip. Rest assured I am not, at least not a personal one. But, there are many people who may be crying after they read this post.
You have all heard the clichés about how love … (4 comments)
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mortgage bonds: The Week In Review (June 11, 2007) : What To Watch For - 06/11/07 08:37 AM
After a semi-calm start, last week ended terribly for mortgage rate shoppers highlighted (lowlighted?) by Thursday's mortgage bond market crash.
The drubbing Thursday was the worst day for the bond market in three years and is one of the reasons why the conforming and jumbo 30-year fixed mortgage is up 0.625% … (3 comments)
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mortgage bonds: When Mortgage Rates Snowball Higher And It Becomes An Avalanche - 06/09/07 07:35 AM
Thursday was the single worst day for mortgage rates in more than four years.
Because so few homeowners understand how mortgage rates are determined, a day like Thursday may have little context.
So, let's try to put it in perspective.
If somebody told you that the stock market crashed, you'd understand. A … (1 comments)
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mortgage bonds: Florida Mortgage Market Update - 06/05/07 10:02 AM
We remain in a LOCKING stance. Mortgage Bonds = -22bp.
What do the "Coriolus Effect" and Bonds have in common? Well, the Coriolus Effect describes the whirlpool action that sucks water down in a circular fashoin and bonds continue to be "sucked down" as they remain in their downward channel.
Ben Bernanke … (0 comments)
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mortgage bonds: TGIF -- Otherwise, Mortgage Bond Prices Would Probably Keep Falling! - 06/01/07 10:36 AM
OUCH!!!
Bonds woke up in a bad mood today and are currently down -28 basis points.
The Core Personal Consumption Expenditure (PCE) Index for April, which measures core consumer inflation, was reported below expectations at 0.1%. But more importantly, the small 0.1% rise in April helped lower the year-over-year core rate of … (3 comments)
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mortgage bonds: Mortgage Market Update -- .: For the Week of March 5th:. --- - 03/05/07 11:35 AM
… (0 comments)
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mortgage bonds: Important News Re Interest Rates Tomorrow (Dec 8) - 12/07/06 01:14 PM
Ladies and Gents, Brokers and Agents,We have some big news on the horizon that could easily establish a new trend in interest rates for the next month or so. And that new trend is not "even better rates." What I'd like to do is give you a brief understanding of what … (3 comments)
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