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Mortgage and Lending - The Federal Savings Bank/Lending in 50 states - NMLS # 109616

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2009 

MBS prices are up +2/32 (FNMA 30-yr 4.0 at 100.56), above the initial price level at +1/32. Today's Chicago PMI and Consumer Confidence data came in a little weaker than expected. The Chicago PMI dropped to the lowest level since 1980. The January S&P/ Case-Shiller index of home prices in 20 majo...
03/31/2009
MBS prices are up +4/32 (FNMA 30-yr 4.5 at 102.03), below the initial price level at +6/32. No economic data came out today, and it was a quiet session. A decline in the stock market helped MBS markets move higher. The Dow fell 250 points. Tomorrow, Consumer Confidence and Chicago PMI will be rel...
03/30/2009
The important Employment report will come out on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Early estimates are for a loss of about 650K jobs in March. Before the Employment Data, the...
03/27/2009
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Mortgage Rates Hold Low Levels   The Fed announcement last week about an expansion of the mortgage-backed securities (MBS) purchase program pushed mortgage rates down to the lowest levels in decades, according to the weekly surveys from the Mortgage Bankers Association (MBA) and Freddie Mac. This...
03/27/2009
MBS prices are up +1/32 (FNMA 30-yr 4.5 at 101.91), below the initial price level at +5/32 and the high for the day of +7/32. Today's Personal Income and Consumer Sentiment data came in close to expectations. The Dow fell 150 points today, but still gained about 7% for the week. MBS prices were n...
03/27/2009
Despite an almost 500 point rally in the Dow Jones Insdustrial, Morgage backed securities (MBS) were down only 3/32nds  below the high for the day of +3/32, and at the low for the day. Investors that issued pricing around noon (market high) pose the greatest risk for a reprice.  The Fed's commitm...
03/23/2009
Thanks to a Fed announcement (see below) which exceeded all expectations, it was a big week for mortgage markets. Mortgage rates ended the week down significantly, falling near the lows reached in January. The stock market and Treasury market also performed well during the week.  Following Wednes...
03/20/2009
MBS prices are down -7/32 (FNMA 30-yr 4.5 at 101.94), below the initial price level at unchanged. It was a quiet session. MBS markets drifted lower late in the day as investors prepared for the weekend. No economic data came out today. Fed Chief Bernanke's speech was a broad description of financ...
03/20/2009
MBS prices are up +2/32 (FNMA 30-yr 4.5 at 101.09), above the initial price level at +1/32. It was a quiet session. The PPI inflation data was mixed, while housing starts were much stronger than expected. February single-family housing permits rose 11% from January, which was the largest monthly ...
03/17/2009
MBS prices are unchanged (FNMA 30-yr 4.5 at 101.06), above the initial price level at -2/32. It was a quiet session. Today's economic data caused little reaction in MBS markets. Treasury markets fell moderately, as investors lowered their expectations that the Fed will announce a program to purch...
03/16/2009
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