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

ARCHIVED BLOG POSTS

2009 

MBS prices are up +1/32 (FNMA 30-yr 4.0 at 99.91), flat to the initial price level. MBS prices barely moved today. Treasury and stock markets also were nearly unchanged. April Housing Starts and Building Permits fell more than expected to record lows, due to a decline in multi-family units. The D...
05/19/2009
Last week, the Secretary of the Department of Housing and Urban Development announced that home buyers would be able to use the $8,000 first-time homebuyer tax credit for down payments on FHA loans through the use of bridge loans. HUD also posted the information on its website (HUD Mortgagee Lett...
05/18/2009
MBS prices are down -8/32 (FNMA 30-yr 4.0 at 99.88) below the initial price level at unchanged.  A rally in the stock market hurt MBS markets. The National Association of Home Builders (NAHB) May confidence index rose to 16, the highest level since September 2008. The Dow gained 240 points. Tomor...
05/18/2009
It will be a light week for economic data. The FOMC minutes from the April 29 Fed meeting will be released on Wednesday. These detailed notes on the discussion at the meeting often reveal additional insight into the Fed's actions. Housing Starts will come out on Tuesday. The only other reports wi...
05/15/2009
After several weeks of improving economic forecasts, weaker than expected economic data this week tempered some of the optimism for a near-term recovery, which was favorable for mortgage markets. Tame inflation data and sustained Fed purchases of mortgage-backed securities (MBS) also helped. As a...
05/15/2009
MBS prices are down -5/32 (FNMA 30-yr 4.0 at 100.09), below the initial price level at -4/32. It was a quiet session. MBS prices fell early after the first round of economic data was released and then held steady. Overall, today's economic data indicated slightly stronger than expected economic g...
05/15/2009
MBS prices are up +5/32 (FNMA 30-yr 4.0 at 100.25), above the initial price level at -1/32, and at the high for the day. Jobless Claims came in higher than expected, which was favorable for MBS markets. The PPI inflation data was close to the consensus forecast. The Dow rose 50 points. Tomorrow, ...
05/14/2009
MBS prices are up +4/32 (FNMA 30-yr 4.0 at 100.09), below the initial price level at +5/32. MBS markets moved higher after the release of weaker than expected Retail Sales data and then stayed within a wide range for the rest of the day. Interest rates remained in the tight range in place since M...
05/13/2009
MBS prices are up +1/32 (FNMA 30-yr 4.0 at 99.97), above the initial price level at -2/32, and near the high for the day. The Trade Balance data had little impact. The Dow rose 50 points. Tomorrow, Retail Sales and Import Prices will be released at 8:30 et. The National Association of Realtors (N...
05/12/2009
MBS prices are up +19/32 (FNMA 30-yr 4.0 at 99.94), far above the initial price level at +10/32.  No economic data was released. Speculation that the Fed wants lower interest rates fueled a rally in bond markets today. The possibility that the Fed could increase its rate of MBS and Treasury purch...
05/11/2009
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