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Mortgage and Lending - The Federal Savings Bank/Lending in 50 states - NMLS # 109616

ARCHIVED BLOG POSTS

2008 

An unusual side effect of the current mortgage crisis may cause adjustable rate mortgages' (ARMs) rates to increase both as the fixed periods expire and as new loans are acquired.  The Fed funds rate at which banks can borrow from one another is currently 2%.  Banks, however have so little confid...
09/17/2008
MBS prices are up +4/32 (FNMA 30yr 5.5 at 101.00), above the initial price level at -5/32. MBS markets dropped to a low of -15/32 this morning, and then moved higher for the rest of the day. Continued worries about financial firms caused a 450 point decline in the Dow. Today's Housing Starts data...
09/17/2008
MBS prices are down -22/32 (FNMA 30yr 5.5 at 100.56), far below the initial price level at -5/32, at the low for the day. MBS markets bounced around in a wide range, before heading lower after the Fed announcement. While many investors expected a rate cut, the Fed held the fed funds rate unchange...
09/16/2008
MBS prices are up +23/32 (FNMA 30yr 5.5 at 101.48), above the initial price level at +17/32. MBS markets bounced around in a wide range, and favorable repricing was seen. The Dow lost over 500 points, the largest one-day percentage drop since March 2002. Much of the news during the day concerned ...
09/15/2008
MBS prices are down -10/32 (FNMA 30yr 6.0 at 101.47), below the initial morning price level at +1/32, and near the low for the day. A high of +6/32 was reached, and unfavorable repricing took place. The Employment report showed job losses close to the consensus estimates, but the Unemployment Rat...
09/05/2008
MBS prices are up +11/32 (FNMA 30yr 6.0 at 101.72), above the initial price level at +3/32, and at the high for the day. MBS markets began near unchanged levels and rose as the stock market fell. The Dow lost about 350 points. The ISM Services index came in a little higher than expected. The impo...
09/04/2008
MBS prices are up +3/32 (FNMA 30yr 6.0 at 101.34), above the morning price level at -2/32. MBS markets climbed higher in the middle of the session on light volume. July Factory Orders came in a little higher than expected. The Fed's Beige Book reported generally weak economic growth, as expected,...
09/03/2008
MBS prices are up +9/32 (FNMA 30yr 6.0 at 101.19), above the morning price level at -6/32, and at the high for the day. Favorable repricing took place. Oil prices dropped $5 per barrel to $110 per barrel, and stocks initially rallied on the news. The Dow was up almost 250 points early in the day,...
09/02/2008
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Jeff Jensen

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