ARCHIVED BLOG POSTS
2016
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Mortgage backed securities (MBS) closed up 25 basis points today at 103.59 having risen to within 2 points of resistance offered by the 50 day moving average before closing just 5 basis points below it. The 30 year was at 3.50% during today's trading. Whether in New England, the Mid Atlantic o...
09/21/2016
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Tomorrow at 2 PM we will be treated to another news conference dominated by the head of the Federal Reserve, Janet Yellen. Janet is an economist married to an economist. Can you imagine their conversations over the breakfast table. I used to work for a fellow who created his own futures produc...
09/20/2016
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This is Fed Week. The Fed's Open Market Committee will meet on Tuesday and Wednesday at 2PM Janet Yellen will conduct another of her famous news conferences. Be prepared to buckle your seat belt because she will begin speaking in her own complex form of rhetoric which will confuse most everyone...
09/19/2016
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Mortgage backed securities (MBS) closed down 16 basis points today at 103.40 having barely remained above the 100 day moving average throughout the session and fallen away from the 50 day moving average above. The 30 year was at 3.50% during today's trading. Whether in New England, the Mid At...
09/19/2016
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Deutsche Bank was implicated for improper sales of German Mortgage Backed Securities between 2005 and 2007 today which caused European markets to sell off. It did not take long for equity futures here to follow suit. At the same time crude oil futures were nearing $43.00 per barrel. The year o...
09/16/2016
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Mortgage backed securities (MBS) closed up 9 basis points today at 103.56 having remained above the 100 day moving average throughout the session and inched ever closer to the 50 day moving average above. The 30 year was back at 3.50% during today's trading. Whether in New England, the Mid Atl...
09/16/2016
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Stock futures stretched upward today in anticipation of a plethora of economic reports coming out today. While crude oil continued its downward march, August retail sales fell, The Empire Manufacturing Index fell, initial jobless claims were on target and the Producers Price Index was on target ...
09/15/2016
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Mortgage backed securities (MBS) closed up 6 basis points today at 103.47 having remained above the 100 day moving average throughout the session and inched ever closer to the 50 day moving average above. The 30 year was back at 3.50% during today's trading. Whether in New England, the Mid Atl...
09/15/2016
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With no economic reports due out today stock futures edged higher after yesterday's losses. The average 30 year conforming rate fell to 3.67% yesterday with borrowers paying an average of .36 of a point. Once again mortgage rates are basking in a delicious range of near record lows. Homeowners...
09/14/2016
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Mortgage backed securities (MBS) closed up 19 basis points today at 103.41 having remained above the 100 day moving average throughout the session and closed a full 20 points above it.We have been in a yo yo mode for the past couple days. The 30 year was at 3.625% during today's trading just a ...
09/14/2016
