ARCHIVED BLOG POSTS
2013
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Stock futures opened slightly higher today as commodities like oil and gold were at recent lows. Liquid gold, better known as north Sea crude was selling at $83. per barrel today and gold itself was trading at $1,375 an ounce. Inflation remained fairly tame increasing only .4% and housing start...
05/16/2013
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Mortgage backed securities (MBS) closed up 44 basis points today at 103.09 having fallen down to test support offered by the close at 102.56 prior to rallying later in the day and breaking through resistance levels offered by the close of 102.88 and 103.03. The fact that MBS bonds had their seco...
05/16/2013
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With mortgage bonds showing some early morning progress, stock traders began to look at economic data as it became available. The Producers price index showed extremely low levels of inflation which can be the friend of both stocks and bonds, A morning clunker was the empire state manufacturing...
05/15/2013
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Mortgage backed securities (MBS) closed up 16 basis points today at 102.66 having bounced down to touch support at 102.47 prior to reaching up passing through resistance offered at the 102.75 level. It was the first green candle on the chart after four days of significant losses. Today's tradin...
05/15/2013
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Mortgage backed securities (MBS) closed down a whopping 38 basis points today at 102.50 having fallen precipitously for the fourth consecutive day. Yestereday's Bullish Hammer pattern which appeared on the Japanese candlestick chart usually signals an impending improvement in markets. Today, ho...
05/14/2013
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1. Rent vs. Buy – With house prices inching up and rates still historically low, there could be no better time to get your rental customers lined up and ready to buy. As I have discussed, the argument presented by the Rent vs. Buy comparison can be compelling. Regardless of the price o f ...
05/14/2013
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Is the end of the refinance boom in sight? The Mortgage Bankers Association thinks so. They predict that the 30 year conforming rate will be at 4.0% by the end of this year and at 4.5% by the end of 2014. Their prediction assumes that there will be a slowing in the Fed’s program of a...
05/13/2013
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Rates – Once again rates rose on a Friday afternoon. 30 year conforming rates popped up to 3.625% while the “high balance” conforming rate available only in Fairfield County jumped up one quarter point to 3.875%. The Jumbo rate ironically remained at 3.625% for now. The jumbo ARMs rem...
05/13/2013
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Is the end of the refinance boom in sight? The Mortgage Bankers Association thinks so. They predict that the 30 year conforming rate will be at 4.0% by the end of this year and at 4.5% by the end of 2014. Their prediction assumes that there will be a slowing in the Fed’s program of a...
05/10/2013
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MBS Bonds – MBS bonds are in a funk to say the least. After Thursday long red candle we saw another on Friday. I had mention last Friday that the market could worsen in hurry and much to my chagrin that occurred. In just two days the highly watched 3.0% coupon bond fell 88 basis point...
05/10/2013
