san diego mortgage news: San Diego Mortgage News - July 17, 2013 - 07/17/13 03:04 AM
Bernanke’s prepared text was out at 8:30 this morning (way early) before his 10:00appointment at the House Financial Services Committee. He is saying that the central bank’s asset purchases “are by no means on a preset course” and could be reduced more quickly or expanded as economic conditions warrant. “If the outlook for employment were to become relatively less favorable, if inflation did not appear to be moving back toward 2 percent, or if financial conditions -- which have tightened recently -- were judged to be insufficiently accommodative to allow us to attain our mandated objectives, the current pace of purchases could be maintained for … (0 comments)

san diego mortgage news: San Diego Mortgage News - June 5, 2013 - 06/05/13 04:09 AM
Prior to 8:15 the 10 yr was +8/32 at 2.12% -3 bps; US stock indexes were slightly weaker. At 8:15ADP reported private job growth in May increased by 135K, the consensus estimate was +170K; April private jobs were revised lower, to 113K frm 119K. It was all in the service sector increasing 135K, construction gained 5K jobs, financial services +7K, manufacturing lost 6K. Small businesses added 57K jobs. The initial reaction improved the bond market, the 10 yr at 8:30 +13/32 at 2.11% -4 bps, 30 yr 3.5 FNMA MBSs struggling at 8:30 up 14 bp---not much as the MBS market remains more bearish than treasuries. At 8:30 Q1 productivity was … (0 comments)

san diego mortgage news: San Diego Mortgage News - April 5, 2013 - 04/05/13 05:35 AM
The first Friday of every month is almost always one of shock and awe; the release of the monthly employment data is rarely a calm event. Today the March data didn’t disappoint in terms of surprise. The unemployment rate hit at 7.6% down frm 7.7% in Feb, so far on the surface that looks good, but not really. Non-farm job growth was expected at about 190K, job growth as reported increased just 88K; non-farm private job growth was thought to be about 200K, as reported up just 95K. There was revisions to Feb and Jan jobs that totaled an additional 61K … (4 comments)

san diego mortgage news: San Diego Mortgage News - April 4, 2013 - 04/04/13 03:46 AM
Prior to 8:30 this morning the 10 yr note and MBS prices were slightly better after the strong improvements yesterday. North Korea is rumbling and the US is responding with increased military readiness, investors turning more to safety in US treasuries. The early activity in the stock index futures markets before 8:30 were trading better after the strong selling yesterday, also a reaction over the North Korean’s threats. Yesterday a military leader in the country commented he now had the approval of the leaders of the country to attack the US and South Korea, the remark added additional emphasis to the on-going … (0 comments)

san diego mortgage news: San Diego Mortgage News - Tuesday March 26, 2013 - 03/26/13 03:35 AM
Interest rate markets continue to trade in a tight range, this morning the 10 yr note started down 4/32 at 1.93% +1 bp and 30 yr MBS price at 8:30 -3 bps. US stock indexes early today were pointing to a better opening at 9:30, the same as yesterday; but yesterday after opening better the DJIA dropped 117 points before ending -64. The EU is still impacting markets; although the troika and Cyprus leaders cobbled a plan to keep the country from falling out of the European Union, the plan is not likely to go down well with investors both in … (0 comments)

san diego mortgage news: San Diego Mortgage News - March 25, 2013 - 03/25/13 05:14 AM
Cyprus secured a bailout from its creditors; ending a week of financial panic that threatened to see the island nation become the first government to leave the euro zone. In the late hours of Monday morning Cyprus agreed to the outlines of an aid package, paving the way for 10 billion euros ($13B) of emergency loans to stave off the threat of default. The accord imposes losses that two European Union officials said would be no more than 40% on uninsured depositors at Bank of Cyprus Plc, the largest bank, which will take over the viable assets of Cyprus Popular Bank … (1 comments)

san diego mortgage news: Mortgage News - Monday December 17, 2012 - 12/17/12 02:16 AM
Stock indexes prior to the 9:30 open were a little better, the 10 yr note yield at 1.72% +1 bp, 30 yr MBSs +5 bp. At 8:30 the Dec Empire State manufacturing index was expected at 0.0, it fell to -8.10 frm -5.2 in Nov. The report showed no effect from Hurricane Sandy or the aftermath. The report for December is filled with negatives that include contraction for new orders, unfilled orders, and employment. The 12-month outlook is still positive but is far from robust. There was no noticeable reaction to the weak report.
 
The Cliff is getting closer; over … (0 comments)

san diego mortgage news: Mortgage News - Friday August 17, 2012 - 08/17/12 02:01 AM
 
Financial markets started about unchanged early this morning; the stock indexes a little weaker, the 10 yr note yield down 3 bp and MBS prices at 8:00 unchanged from yesterday. Markets quiet ahead of data at 10:00. Optimism continues that the EU is making progress to fend off defaults on sovereign debts and save the EU from a break up. According to news reports European leaders are moving closer to an agreement on solving the region’s debt crisis that may involve buying sovereign debt. Austrian Chancellor Werner Faymann said the breakup of the euro area or the bankruptcy of a … (2 comments)

 


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