ARCHIVED BLOG POSTS
2010
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Mortgage backed securities (MBS) closed down 16 basis points today settling just below the 100 moving average. A combination of the billions of dollars of Treasury auctions scheduled for next week and reality setting in that the Fed will stop buyiing MBS bonds in two weeks, caused bonds to falte...
03/18/2010
Pursuant to the SAFE ACT (Secure and Fair Enforcement of Mortgage Licensing Act of 2008, mortgage originators are required to take a 20 hour course to help them hone their mortgage skills. I was fortunate to take the course in two marathon sessions over the weekend. It covers a slew of acronyms...
03/15/2010
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Mortgage backed securities closed flat today at 100.88 resting jsut 12 basis points above support at the 50 day moving average and right on the 25 day moving average. With the FED market committee meeeting tomorrow, traders had little resolve. It will be interesting to see if they change any of...
03/15/2010
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There is a gap in vocabulary and methodology between borrowers and underwriters. Underwriters have to anaylze assets and their sources thoroughly in order to make sure there are no other loans resulting from the borrower procuring down payment funds from others. They review bank statements look...
03/11/2010
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Mortgage backed securities (MBS) closed down 9 basis points today at 100.88 just below resistance at the 100 day moving average 9 basis points above. This could present a technical problem if bonds are not able to climb back over this formidable resistance in the next couple trading sessions. T...
03/11/2010
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Today after the MBS trading session there was negative 34 basis point adjustment to the closing price. The adjustment was due to what is called the monthly coupon rollover. Each month the current month's coupon is terminated and all new loans go into the next month's coupon. The negative adjus...
03/09/2010
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Mortgage backer securities (MBS) closed up 15 basis today prior to the coupon rollover. The closing price was 101.34 a full 36 basis points above support offered by the 100 day moving average at 100.98. MBS traders stayed close to the vest until 1 PM when the results of the Treasury auction wer...
03/09/2010
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Connecticut's real estate statute requires that licensed sales persons and broker take 12 hours of continuing education courses prior to renewing their license every other year. Unfortunately licenses must be renewed every year. The deadline for brokers is March 31 while Sales people have until...
03/08/2010
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Mortgage backed securities (MBS) closed unchanged today at 101.19 just 20 basis points above support offered by the 100 day moving average. Today was a day devoid of any economic news and there were no technical signals in the market. Days like this with low trading volume can be volatile, sinc...
03/08/2010
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Despite today's announcement that the unemployment rate dropped from 9.8% to 9.7% we all know that the true numbers are unfortunately much higher. The government's tally fails to take into account those who have stopped receiving benefis, those who have stopped looking, those who have part time ...
03/05/2010
