ARCHIVED BLOG POSTS
2015
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News that the first quarter actually produced a setback for the U.S. economy caused a minor sell off in stocks today as bond yields fell well below recent highs. MBS bonds trended higher offering hope for home buyers and refinance candidates alike. Although stocks are just below record highs, t...
05/29/2015
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Mortgage backed securities (MBS) closed up 9 basis points today at 104.44 once again having remained above support offered by the 25 day moving average. After a long slide downward, MBS bonds appear to be on a mission to re-take resistance offered at the 104.68 level just 24 basis points above t...
05/29/2015
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Fed Chief Janet Yellen's comments late Friday that rate hikes later this year may be appropriate if our economy continues moving forward in a sustainable fashion, probably caused equity traders to dread the opening of the domestic markets today. True to form Standard & Poor futures stumbled out ...
05/26/2015
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Mortgage backed securities (MBS) closed up 28 basis points today at 104.28 having advance through resistance offered at the 104.06 level and closed just 10 basis points below resistance offered by the 25 day moving average. After sliding backward by 44 basis points last week, it was nice to see ...
05/26/2015
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Despite bond yields sliding somewhat downward both here and in Europe, MBS bonds struggle to remain above support. The national average price of regular gasoline was $2.73 which is 91 cents cheaper than if was a year ago and 26 cents more than it was one month ago. 2015 looks to have about 9% m...
05/22/2015
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Mortgage backed securities (MBS) closed down 22 basis points today at 104.00 having fallen back toward support offered at the 200 day moving average prior to remaining just 7 basis points above it. The conforming 30 year fixed was at 3.875 today while the 30 year jumbo was at 3.625%. Traders wi...
05/22/2015
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Stocks failed to set any new records today as both the Dow and the S & P 500 closed down. we have not seen much movement in either direction since the three major brokerage firms had diametrically opposed predictions of the stock markets direction earlier in the week. Tomorrow economic reports ...
05/20/2015
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Mortgage backed securities (MBS) closed up 22 basis points today at 103.97 having broken through resistance at the 200 day moving average during the session and closed above it. If MBS bonds can remain above that level or even move farther above it tomorrow, we may be able to move the conforming...
05/20/2015
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Stocks despite yesterday's recording setting results had another day of little movement. The Dow which gained only 13 points in a mixed market. Just as mixed was the message send by major equity traders Bank of America, Merrill Lynch and Goldman Sachs. The former two forecast a poor summer for...
05/19/2015
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Mortgage backed securities (MBS) closed down 25 basis points today at 103.78 having fallen below support offered by the 200 day moving average. Yesterday the MBS market began following the 3.50% coupon in reaction to recent increases in conforming rates. It is important that bonds advance above...
05/19/2015
