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2018
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As expected, the Fed raised its federal funds rate by a quarter point to 1.75% today. That action had the effect of raising the prime rate to 4.75%. The federal funds rate is the rate at which member banks can borrow from the Fed overnight. The prime rate is used as an index to determine home ...
03/21/2018
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Mortgage backed securities (MBS) closed up 16 basis points today at 102.22 having come to rest 2 basis points below the 10 day moving average. The 30 year was available at 4.50% day. The 30 year jumbo was also at 4.50%. Whether in New England, the Mid Atlantic or the Midwest or anywhere else i...
03/21/2018
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Mortgage backed securities (MBS) closed down 22 basis pointes yesterday at 102.06 having come to rest 22 basis points below the 10 day moving average. The 30 year was available at 4.50% day. The 30 year jumbo was also at 4.50%. Whether in New England, the Mid Atlantic or the Midwest or anywher...
03/21/2018
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The week is full of key economic data from a variety of sectors. The two-day FOMC meeting began on Tuesday and ends today at 2:00 p.m. ET with the release of the Fed's monetary policy statement. Look for housing news with Existing Home Sales on Wednesday and New Home Sales on Friday. Weekly Initi...
03/21/2018
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Well once again we have arrived at Fed Week. It will be interesting to see how different Jerome Powell's post announcement press conferences will be from those of Janet Yellen. Remember how she would go and on in a circuitous fashion using arcane words and defining economic principles in diff...
03/19/2018
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Mortgage backed securities (MBS) closed down 3 basis today at 102.31 having come to rest 2 basis points below the 25 day moving average. The 30 year was available at 4.375% today. The 30 year jumbo was also at 4.375%. Whether in New England, the Mid Atlantic or the Midwest or anywhere else in ...
03/19/2018
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Today is the Ides of March. That is the day that Julius Caesar went to the Roman Senate and was attacked and murdered by the conniving Cassius and uttered the famous line "et tu Brute". His close friend Brutus was part of the conspiracy acting against him. Caesar's wife Calpurnia received an ...
03/15/2018
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Mortgage backed securities (MBS) closed down 3 basis today at 102.34 having come to rest 2 basis points above the 25 day moving average and 66 points below the 50 day. The 30 year was available at 4.375% today. The 30 year jumbo was also at 4.375%. Whether in New England, the Mid Atlantic or t...
03/15/2018
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Today was inflation testing day and the Consumer Price Index came in up 2.2% year over year. While that was a little hotter than expected, the year over core inflation was up just 1.8%. Meanwhile in Washington fur was flying in all directions. As I am sure you heard, Rex Tillerson was out and ...
03/13/2018
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Mortgage backed securities (MBS) closed up 3 basis today at 102.34 having come to rest right at the 10 day moving average and just 6 points below the 25 day. The 30 year was available at 4.375% today. The 30 year jumbo was also at 4.375%. Whether in New England, the Mid Atlantic or the Midwest...
03/13/2018
