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

ARCHIVED BLOG POSTS

2009 

Mortgage rates held steady during the first half of the week, until Wednesday's Fed meeting. As expected, the target for the Fed Funds rate remained unchanged, close to a level of zero. Heading into the announcement, the biggest question for investors was whether the Fed would begin to purchase T...
01/30/2009
MBS prices are even (FNMA 30-yr 4.0 at 99.22), below the initial price level at +7/32. Unfavorable repricing was seen. It was a volatile session. Today's GDP data showed a smaller than expected decline. The Chicago PMI and Consumer Sentiment both came in close to the consensus. The Dow fell 150 p...
01/30/2009
As expected, the target for the Fed Funds rate remained unchanged, close to a level of zero. Heading into the announcement, the biggest question for investors was whether the Fed would begin to purchase Treasuries in addition to MBS. According to the statement, the Fed is ready to purchase Treasu...
01/28/2009
MBS prices are down -6/32 (FNMA 30-yr 4.0 at 100.00), below the initial price level at +2/32. It was a volatile session. First favorable and later unfavorable repricing took place. MBS prices fell after the release of the Fed statement, and Treasuries dropped far more. Investors were hoping for m...
01/28/2009
MBS prices are up +9/32 (FNMA 30-yr 4.0 at 100.19), above the initial price level at +1/32. January Consumer Confidence dropped to a record low reading of 37.7, below the consensus of 39.0. A record large $40 billion 2-yr Treasury auction saw strong demand, and foreign buyers purchased 35% of the...
01/27/2009
MBS prices are down -3/32 (FNMA 30-yr 4.0 at 99.91), below the initial price level at -1/32. MBS prices fell as low as -7/32 before moving higher. December Existing Home Sales rose to a 4.74M annual rate, far above the consensus forecast of 4.40M (woo hoo!!!). Inventories of unsold homes declined...
01/26/2009
Supply Concerns Move Market A new President took office, a large fiscal stimulus package moved closer to passage, and investors became more concerned about the impact of the enormous amount of debt which will be issued to pay for all the government programs. The most recent proposal called for an...
01/23/2009
MBS prices are up +6/32 (FNMA 30-yr 4.0 at 100.00), above the initial price level at -2/32, and at the high for the day. First unfavorable and later some favorable repricing took place. MBS prices reached a low of -6/32 before moving higher again. No economic data came out today. The Dow fell 50 ...
01/23/2009
MBS prices are up +4/32 (FNMA 30-yr 4.o at (99.81), back to the initial price level. Unfavorable repricing took place. MBS prices reached a low of -4/32 before moving higher again. Today's economic data came in weaker than expected, but it produced little reaction in MBS markets. December Housing...
01/22/2009
MBS prices are down -9/32 (FNMA 30-yr 4.0 at 99.69), below the initial price level at -4/32. Unfavorable repricing took place. No economic data came out today. MBS markets drifted lower during the afternoon. The Dow which was down early, came storming back in the afternoon and closed up 279 point...
01/21/2009
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