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

ARCHIVED BLOG POSTS

2012 

Stocks began the morning following yesterday's pattern of advancement.  Shortly after the open, news of a 3.4% increase in existing home sales was released.  This should have had a more positive reaction, but stocks never really got rolling.  Late in the day the former Greek Prime Minister announ...
05/22/2012
Mortgage backed secuirites (MBS) closed down 9 basis points today at 104.28 having come to rest just 3 basis points above the former highest of all time level of support.  Despite the fact that stocks really did not do much today and that the auction of 2 year notes garnered an "A" rating, the re...
05/22/2012
Stocks which had lost ground in twelve of the thirteen previous sessions were due for a turn around and today it arrived.  Good news from Europe about making every effort to keep Greece in the Eurozone fold, gave traders reason to buy today; and buy they did.  All three major markets had healthly...
05/21/2012
Mortgage backed securities (MBS) closed down 6 basis points today 104.38 having closed exactly on the high close level that had preceeded the little run which we just experienced.  MBS bonds actually did well to stay at that level in the face of a robust rally in the stock market.  Tomorrow bring...
05/21/2012
The Dow Jones Industrial Average is down over 800 points since it high on april 30th.  Today's major market focus was not in Europe but instead in Southern California.  Marc Zuckerberg rang the opening bell on Wall Stree by remote control as he prepared to rake in billions of dollars in today's F...
05/18/2012
Mortgage backed securities (MBS) closed down 22 basis points today at 104.47 having broken a chain of six consecutive positive trading sessions.  In a reverse of yesterday's close, bonds closed near their lows of the day.  That is normally an indication of rough sledding but with stocks mired in ...
05/18/2012
Stock future were lackluster this morning pointing toward a flat beginning.  WalMart earnings came in slightly above the anticipated level and new jobless claims were in line with last weeks at 370,000.  the Philadelphia Fed Index of future production came significantly under expectations and sto...
05/17/2012
Mortgage backed securities (MBS) closed up 31 basis points today at 104.69 having burst through resistance and set a new record high close.  That closing level was only two points off its high for the day.  The resulting Japanese candlestick is a bold green stick which portends additional improve...
05/17/2012
Mortgage backed securities (MBS) closed up 9 basis points today at 104.38 having set yet another new record despite being grossly overbought.  The stochastic meter looks like the temperature gauge on my 1939 Buick in the middle of a traffic jam on a scalding August afternoon; through the roof.  T...
05/16/2012
This morning's trading session was greated with mixed messages as housing starts were up and housing permits were down.  Looking for any way to move ahead, stocks began the day slightly higher.  But throughouot the day stocks waned and the pattern of late days selloffs that we have seen for sever...
05/16/2012
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