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

ARCHIVED BLOG POSTS

2012 

Stock traders were greeted this morning with a disappointing ADP report on May job creation.  At the same time the number of new jobless claims was up to 383,000 which was 10,000 more than last week and 15,000 more than the street expected.  The second adjustment for the GDP was down to a 1.9% im...
05/31/2012
Mortgage backed seccurities (MBS) closed up 25 basis points today at 105.30 having venture once again into record territory for the 3.5 coupon.  The 10 year Treasury also hit another record dipping down to a yield of 1.56%.  A bevy of bad economic news was greeted with joy  buy bond traders who r...
05/31/2012
Mortgage backed securities (MBS) closed up a whopping 50 basis points today at 104.78 setting a new record close for the 3.5% coupon bonds.  At the same time the 10 year Treasury, which normally trends in the same direction as MBS bonds, closed with a yield of 1.62% also breaking the all-time rec...
05/30/2012
Mortgage backed securities (MBS) closed down 6 basis points today at 104.28 having come to rest just 10 basis points below resistance offered by the recent record high.  MBS bonds enccountered significant headwinds today as stocks improved for the fifth time in six sessions.  There was some bad n...
05/29/2012
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Stock futures were flat this morning as traders waited to see how Consumer Senitment reading would look.  When it came in at 79.3, the best reading since October 2007 and beat the prognoticators' expectations once would have expected stocks to jump.  Not in this wacky world, however, with new wor...
05/25/2012
Mortgage backed securities (MBS) closed up 16 basis points today at 104.34 having broken through the first level of resistance above prior to falling back just under it.  As I discussed yesterday there was very little traffic during today's holiday shortened trading session.  MBS traders headed o...
05/25/2012
Stock futures pointed higher this morning in anticipation of initial jobless claims and durable goods reporting.  After small initial gains, the stocks began to slide on word of a deepening recession in the UK.  Stocks continued to sputter despite a slight drop in claims and a solid durable goods...
05/24/2012
Mortgage backed securities (MBS) closed down 19 basis points at 104.19 having fallen below the resistance offered by the recent high close.  As is typical on holiday weekends, the number of traders diminishes quickly as the holiday itself approaches.  The result produces light trading which means...
05/24/2012
Stocks did not have a chance this morning after the computer maker Dell missed earnings goals and the news from the former Greek Prime MInister that Greece may leave its association with the Euro hit the presses.  Markets across the world reacted adversely with the Brazilian stocks being off more...
05/23/2012
Mortgage backed securities close up 9 basis points today at 104.38 having climbed back up in baby steps toward resistance offered by the recent record high closing.  MBS bonds traded in a tight range today and closed in the middle of the days range.  A rare late afternoon alert to lock came as bo...
05/23/2012
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