ARCHIVED BLOG POSTS
2010
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How is it that despite all the pain and gnashing of teeth over the "sub prime" mortgage debacle, that we have so many programs affording buyers the opporttunity to puchase homes with little or nothing down? FHA loans which allow down payments of as little as 3.5% are guaranteed by the federal gov...
03/31/2010
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Mortgage backed securities (MBS) closed down 12 basis points today at 100.16 well below resistance offered by the 200 day moving average 44 basis points above. Despite a negative repoort from ADP on a reduction in jobs, MBS bonds drifted lower throughout the day. In addition to the huge volume ...
03/31/2010
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This week the fed will purchase the last of its $1.25 trillion mortgage backed securities. That cessation of purchasing combined with all the new Treasury auctions and ensuing debt should force interest rates on home mortgages higher. We have had a pretty good run with the 30 year fixed conform...
03/29/2010
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Mortgage backed securities (MBS) closed flat today at 100.41 just below difficult resistance offered by the 200 day moving average. During the day they traded right up to it but were never able to break through. The news that inflation came in slightly lower than expected was not enough to move...
03/29/2010
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Today was the big day for me to get fingerprinted in compliance with the new mortgage originator licensing program. Finding the location was quite a challenge. Why doesn't anyone put the street number on their buildings any more or at least on the sign out front? As it turns out the fingerprin...
03/25/2010
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Mortgage backed securities closed down 3 basis points today at 100.12 just below support at 100.16. MBS bonds were trading much lower for the greater part of the day; at one point falling as low as 99.69. Stocks were rallying until the President of the Europeann Central Bank announced that givi...
03/25/2010
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Mortgage backed securities (MBS) caming crashing down today as concerrns about Portugal's credit rating swirled and there was talk of a possible downgrade of the U.S. rating. The 4.5% coupon bonds closed down 88 baasis points at 100.16 having crashed through all levels of support. 88 basis poin...
03/24/2010
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This mortgage licensing process is quite a bother. First the 20 hour course over the weekend. Then the federal testing at the secure test facility. Now two more steps. First we had to access the national licensing web site to attest to certain truths about our background. The the passwords a...
03/23/2010
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Mortgage backed securities (MBS) closed down 3 basis points today at 101.03 just 3 basis points above the important support level offered by the 100 day moving average. Mediocre Treasury auction results were not enough to influence bonds. Traders thought housing numbers would come in soft. As ...
03/23/2010
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This week I completed and passed the federal mortgage origination test which must be taken in order to be granted a federal mortgage license. The ttest consisted of 100 multiple choice questions and was administered in a closely monitored envirornment at a national testing service facility. Th...
03/18/2010