ARCHIVED BLOG POSTS
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...
05/10/2013
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All those who have been waiting in the wings to refinance in the latest wave of low rates should take action now. Rates have dipped and surged twice in recent weeks and today's long red candlestick may have been the handwriting on the wall calling you to take action now! With the Mortgage Broke...
05/09/2013
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Mortgage backed securities (MBS) closed down 12 basis points today at 103.88 having surged upward to touch resistance offered by the 25 day moving average before falling back down through support offered by the 200 day moving average and closing below it once again. The long red candlestick show...
05/09/2013
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After yesterday's record setting closes, both the S&P and the Dow stepped slowly out the door this morning. A lack of economic reports provided no directions for traders who were seeking the next conditions to which to react. A large sale of 10 year Treasuries and a general malaise in MBS bonds...
05/08/2013
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Mortgage backed securities (MBS) closed even on the day at 103.97 having remained wedged in between resistance offered by the 200 day moving average above and support offered by the 100 day moving average below. The stock market continued its advance, albeit slowly. At the same time MBS bonds w...
05/08/2013
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With no economic reports coming out today it was unsure where stocks would go after a big day last Friday. As it urns out, however, today was a day of exubereance as the market began higher and quickly crossed the never before attained 15,000 mark. Not only did they cross the former barrier the...
05/07/2013
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Mortgage backed securities (MBS) closed down 3 basis points today at 103.97 having remained just 4 basis points below resistance offered by the 200 day moving average. In the wake of Friday's big double whammy sell-off MBS bonds found themselves looking up at what had been support for several we...
05/07/2013
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Interest rates and the media. We all know that headlines sell papers. That was proven all too well by Pulitzer’s yellow journalism. The advent of newspapers like the New York Post and Daily News with headlines front and back did indeed sell papers to the common man who worked hard f...
05/06/2013
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Friday’s surprising jobs number caught bond traders by surprise. MBS bonds which had been surging sold off 59 basis points. Not only was the jobs number of 165,000 new jobs above ADPs estimate of 122,000 new jobs, (As we have discussed their number are frequently suspect) but they exceed the 15...
05/06/2013
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MBS Market – Friday’s surprising jobs number caught bond traders by surprise. MBS bonds which had been surging sold off 59 basis points. Not only was the jobs number of 165,000 new jobs above ADPs estimate of 122,000 new jobs, (As we have discussed their number are frequently suspect) but the...
05/03/2013
