Terrific Thursday to all, The market is focused on un-employment #s. Initial claims rose above expectations, factory orders rose 1%. Somehow almost 1m lost jobs were NOT included with reports............. HUMM? The market is reacting to revised numbers, without new jobs being created the recovery will be very slow. Enjoy the rally! Today's market snapshot Have a great day! 02/04/2010

Wonderful Weds Morning to all, Mixed job reports = mixed market emotion this morning. Challenger reporting biggest surge in losses for the last 5 months/ ADP reporting -22k vs revised Dec-61k job losses. AIG is handing out bonus's again-sure to warm everyone's heart. Today's market snapshot. Have a great day! 02/03/2010

Terrific Tuesday to all, We opened slightly higher than yesterday's close: Pending homes sales were up slightly higher than expectations. Un-Employment in major metros was revised much higher for Dec 15% ouch. The Fed will be speaking on financial reforms which will move the market be careful. Today's snapshot Have a great day! 02/02/2010

The FED will evaluate the markets but is continuing to wind down MBS purchases. The FED will hold rates 0-1/4%. The FNMA 4.5% bond coupon has fallen below 100 day moving average and moving down. 10 yr Treasury looks like a Gravestone Doji  now which could be calling the top the market.  Two days ago same candlestick pattern as above.  Advise locking! The FED in-light of improving financial markets will be closing - Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Primary Dealer Credit Facility, and the Term Securities Lending Facility on February 1. With GDP growth likely looking improved: Hold on! Have a great day!   01/27/2010

Wonderful Weds Morning to all, Nice morning rally...........but be extremely careful! The FED announcement later today can quickly shift the markets! New home sales down 7.6% (a 9 month low) Global concerns with down grading China and Japan ratings from Standard & Poor! Today's market snapshot Have a Great Day! 01/27/2010

Fabulous Friday to all, Bias to lock Wall St trying to recover from yesterdays sell off and better earnings reported today. Today's Market Snapshot Have a great weekend! 01/22/2010

Terrific Thursday to all, Strong rally today, Philly FED manufacturing, continued jobless claims and fears of China helping our rally. However be careful we are breaching resistance levels if we can close above them that would be great! Today's snapshot Have a great day! 01/21/2010

Wonderful Weds Morning to all, Strong morning opening fueled by the core rate of inflation being flat, and loan losses with banks. Housing starts were down but building permits were up. The FED will  be speaking this afternoon that we need to watch. FHA new guidelines are also due out today! This morning's market snapshot Have a great day! 01/20/2010

Thundering Tuesday to all, No earth shaking economic news today. CITI reported big losses.......other Banks 4th quarter reports are due out this week.  I would be running to bonds ahead of the other financial institutions reports..........BONDS= Safety! I would carefully float today... let's see if we can maintain the gains we saw on Friday. This morning's snapshot   Have a Fabulous Day! 01/19/2010

Mortgage Market Alert and Update Mortgage Backed Securities had a very good day Friday. Word of caution: If you are closing within a short time frame might consider locking over the weekend, or Mon. Patterns which lead to the heads up! 10yr Treasury Thursday spinning top -the market was undecided (battle of the bears and bulls) 10yr Treasury Friday shooting star - Tues could open lower & close the gap up we opened with Friday- trend reversal indicator GNMA - same pattern as 10yr Treasury both days & above ALL daily moving averages again- trend reversal indicator (FHA Loans) FNMA Thursday spinning top the market was undecided (battle of the bears and bulls) Conventional Loans FNMA Today less of a spinning top but above 200 day moving average breached the 30day and dropped at bit. 100 day... 01/16/2010

Fantastic Friday to all, Great morning opening with bonds. CPI came in at .01 vs 02 projected this measures inflation  Good for bonds NY manufacturing was up 15.92 vs 11.40 expected Pressure for bonds Consumer Sentiment 72.0 vs 74.0 expected Good for Bonds Industrial production .06 vs .06 expected Enjoy the morning gains, be aware we have  breached the 200 day moving average which will be tough to stay above. A new trading range? We have broken out of prior trading range so be careful. Today's snapshot   Have a great weekend! 01/15/2010

The NEW GFE Good Faith Estimate 2010 Jan 1st 2010 brings many POSITIVE changes to the lending world. What do you need to know and how do you read and shop lenders with the new GOOD FAITH ESTIMATE? Let's cut through the confusion! 1st turn off your cell 2nd close your eyes and take a minute to clear your mind 3rd watch this video Great now you have the knowledge of what to expect with 2010's Good Faith Estimate! Change is inevitable! We either change or watch as life changes around us! Regardless if you are a 1st time buyer or re-financing your home you need to grasp the key changes HUD has brought with the new GFE! Best wishes for 2010! 01/14/2010

Terrific Thursday morning to all, Auction jitters........... All news points to rates improving: Retail sales down, new filings for un-employment were up, business inventories down. However we opened up and have since trended down. The auction will pivot us today. If the auction goes well we should see improvement later today. The last two auctions have been well received. Today's snapshot   Charting in detail below.     http://mortgagecoach.utipu.com/app/invited/id/a17d20 I thought the 2000 jars of honey shipped to Wall St would have keep the bears busy..............might need to double the # Have a great day! 01/14/2010

Wonderful Weds Morning to all, Today we will watch the Beige book and the 10yr Treasury auction closely, both will direct the market one way or the other. Depends on your stomach, lock early before both are released or float into the reports! We are at the top of current trading range FYI. Today's snapshot   Charting in detail below.   http://mortgagecoach.utipu.com/app/invited/id/a17d20 Have a great day! 01/13/2010

Terrific Tues Morning to all, Two Fed speeches today: Fed Fisher speaks about the role of the FED and the economy, Plosser on the economic outlook. Either speech can sway the market. Consumer confidence is due out later: If the numbers show a huge improvement that can also lead to a correction. Be cautious float carefully this morning. Today's  market snapshot   Charting in detail below   http://mortgagecoach.utipu.com/app/invited/id/a17d20 Have a great day! 01/12/2010

Marvelous Monday Morning to all, No economic news today. Atlanta Fed Lockhart will be speaking about the our economic outlook at 12:45. Remember when the FED speaks it can shift the markets swiftly. We opened up today, float carefully. Today's snapshot   Charting in detail below.   http://mortgagecoach.utipu.com/app/invited/id/a17d20 Have a great day! 01/11/2010

Where interest rates are heading.................! What does the future hold in store for us with interest rates? The Fed will stop purchasing MBS (Mortgage Backed Securities) in March. The impact on interest rates and bonds is quickly coming. Rates will go up! The Fed has been purchasing MBS holding rates down, once the FED stops rates will go up. To see the impact on bonds with the Fed purchasing MBS and ending the purchases of MBS watch this quick video. If you are planning on purchasing a home or waiting to re-finance you need move quickly. If you are planning on selling your home in the Bay Area react soon before rates go up and a smaller pool of buyers is available. The picture being painted is much rosier than our recovery actually is. Improvements have been seen, but high un-emp... 01/10/2010

Fantastic Friday morning to all, Morning news: Non- farm payrolls way down -85k vs projected -2k.  That should help bonds. Wholesale inventories up 1.5% vs projected -.05. This will hurt bonds. Under-employment(part time workers looking for full time work) up 17.3% vs last report 17.2%. 929k workers have just stopped looking for work so that needs to be added into unemployment #s. Reality is unemployment is 10.5%. We opened strong up 37bps above yesterday's close -down now 31bps. We should see some recovery with bonds........but if we drop below the 10day moving average watch out! Today's snapshot   Charting in detail below. http://mortgagecoach.utipu.com/app/invited/id/a17d20 Have a great weekend!  01/08/2010

Thundering Thursday morning to all, Initial jobless claims 434 vs 449 estimated, continuing jobless claims 4802 vs 4983 estimated. Both were slightly better than expected. This could hurt MBS later in the day. However stronger dollar vs yen and euro and pound...........why their debt ratios are much worse. The Chinese raised rates which surprised the market. Investors at W-ST are cautious against monthly payroll figures due tomorrow morning, giving us a boost so far this morning. Be careful as we could quickly reverse and sell off later........... Today's snapshot Charting in detail below   http://mortgagecoach.utipu.com/app/invited/id/a17d20       Have a great day! 01/07/2010

Quick update with today's close of MBS. Bearish engulfing pattern has developed. Tomorrow we have initial jobless claims est 492k and continuing jobless claims. These will move the market regardless of the technical pattern mentioned above.  Techs suggest another correction especially if the two reports come in better than expected. With the release of the Fed minutes well softly skirted and rosy over tones. So............................ Let's get realistic or should we? The current market reminds me of rides up Mt Diablo especially after hard rains.  It's muddy, sticky and slow and cold on the approach to climb. You try and pick the best line..........but at times there isn't any best route yet we must press on. At the approach layers peel off (don't we wish for transparency from the ... 01/06/2010