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

ARCHIVED BLOG POSTS

2012 

After Friday's strong advance, stock traders did some profit taking today as they solidified gains.  Retail sales dropped .50% last month representing the third straight month of sales decline.  The news was not all bad as sales adjusted for auto sales were down only .4%.  At the same time the Ne...
07/16/2012
Mortgage backed securities (MBS) closed up  28 basis points today at 103.62 setting a new record yet again today.  The variancee in the closing level since Friday is due to the fact that we did switch over to the 3.0% coupon today.  If you remember Wall Street typically adds about 75 basis points...
07/16/2012
After six consecutive losing sessions, stock soared today led by JP Morgan Chase.  After all the wailing about the huge multi billion dollar treding losses last quarter, Chase was joined by Wells Fargo in reported respectible earnings last quarter.  Wells Fargo, after having paid a huge fine for ...
07/13/2012
Mortgage backed securities (MBS) closed down 3 basis points today at 105.69 having remained near historically high resistance levels.  New home buyers are in an extremely fortunate position to be able to access a deeply idscounted housing inventory with the capability of securing funds at histori...
07/13/2012
Stocks began the day lower despite an initail jobless claims number which dropped by 26,000 down to the 350,000 level for the first time since March of 2008.  This should have propelled stocks instantly higher but chatter about some traditional July temporary automobile factory layoffs which did ...
07/12/2012
Mortgage backed securities (MBS) close up 12 basis points today at 105.72 having bounced back from a minor two day selloff and remained close to the all time record highs of recent sessions.  MBS bonds survived a very low initial jobless claims number which proved to be the lowest level of claims...
07/12/2012
Stocks took another fall todays as poor economic news had traders scrambling today to find any positives to cling onto.  Dreamers in the futures market were speculating that additional accommodation in the form of QE3 would arrive and turn markets around.  Instead The small business futures busin...
07/10/2012
Mortgage backed securities (MBS) closed up 16 basis points today at 106.03 having closed over 106. for the first time ever and having ventured even farther into uncharted territory.  Also today the 10 year Treasury, which often trends in the same direction as MBS bonds, closed with a record low y...
07/10/2012
Stocks drifted lower today as European bonds from many countries saw their bond yields rise to possibly unsustainable levels.  The condition that caused the need for the Greek bailout has now infected several countries in the European Union.  With no economic reports being released today traders ...
07/09/2012
Mortgage backed securities (MBS) closed up 16 basis points today at 105.88 once again having closed in rarified air above all resistance and at the highest level ever for the 3.5% coupon bond.  Bond traders took advantage of a moderately poor day for stocks to further  consolidate their gains.  I...
07/09/2012
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