direct lender san diego: San Diego Mortgage News - July 25, 2013 - 07/25/13 02:58 AM
What happened yesterday?  
Mortgage backed securities (MBS) lost -53 basis points from Tuesday's close which caused 30 year fixed rates to move higher.
The benchmark FNMA coupon has now lost -88BPS from Monday's highs.
MBS were under pressure right from the first trade as they tanked -34BPS right out of the gate.Traders have been selling off of their positions as they no longer believe that the benchmark FNMA 3.5% August coupon can sustain their lofty levels of Monday's intra-day high. 
New Home Sales hit a five year high as they rose 8.3% in June.  The seasonally adjusted annualized rate of 497K units is still … (0 comments)

direct lender san diego: San Diego Mortgage News - July 16, 2013 - 07/16/13 02:03 AM
Generally a quiet open this morning. Markets are likely to sit somewhat still through the day today ahead of the beginning of Bernanke’s testimony tomorrow at the House Financial Services Committee; Thursday he moves to the Senate Banking Committee. The obvious topic is what is he thinking now about beginning the end of the QEs? Generally most all market participants are expecting the Fed to start tapering soon, the question is when? Most of the talk has been centered on September for the first cut in the $85B of monthly purchases, some think a cut of $20B a month. Bernanke has been going back and forth … (0 comments)

direct lender san diego: This Week in Mortgage - Monday July 15, 2013 - 07/15/13 10:23 AM
This Week; there are a number of key economic releases but the major focus this week is Bernanke testifying in the House and Senate on the economy, employment and inflation. Likely he will field a lot of questions from politicians about what the Fed intends to do with its QEs and more grilling on the state of the economy and unemployment that refuses to subside. He goes before the House Financial Services Committee on Wednesday and then to the Senate’s Banking Committee on Thursday.    At this moment markets continue to lean towards the Fed beginning to taper as soon as Sept but Bernanke is keeping markets … (0 comments)




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