Jeff Jensen's Blog

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

ARCHIVED BLOG POSTS

2009 

After falling to levels near historical lows, mortgage rates have held fairly steady for several weeks. Weak economic growth around the world and large Fed purchases of mortgage-backed securities (MBS) have helped keep mortgage rates low.  The trigger for the recent decline in mortgage rates was ...
04/09/2009
MBS prices are down -9/32 (FNMA 30-yr 4.0 at 99.69), below the initial price level at -5/32. Unfavorable repricing took place. A stock market rally pushed MBS prices lower. Demand was weaker than average for the 10-yr Treasury auction, which also hurt MBS markets. The Dow is up 200 points. For th...
04/09/2009
On March 18, MBS markets posted substantial gains after the Fed announced an expansion of its program to purchase MBS and a new program to purchase Treasuries. The FOMC minutes from that meeting released today provided a little more insight into the reasoning behind the Fed's decisions. Essential...
04/08/2009
MBS prices are up +9/32 (FNMA 30-yr 4.0 at 100.00), above the initial price level at +1/32. Strong demand for the 3-yr Treasury auction helped MBS markets. Foreign investors purchased 39% of the total auction. Indications from the Fed that economic growth may be lower than expected also lifted MB...
04/08/2009
MBS prices are up +9/32 (FNMA 30-yr 4.0 at 100.16), above the initial price level at +4/32. No economic data came out today. A 200-point decline in the Dow boosted MBS markets. Tomorrow, the FOMC minutes from the March 18 Fed meeting will be released at 2:00 et, and there will be a 3-yr Treasury ...
04/07/2009
MBS prices are up +4/32 (FNMA 30-yr 4.0 at 99.88), below the initial price level at +2/32, and well below the high for the day of +6/32. No economic data came out today. MBS markets swung in a wide range on light volume. The Dow fell 40 points. Mortgage rates remained in the recent range with the...
04/06/2009
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