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

ARCHIVED BLOG POSTS

2015 

The Open Market Committee of the Federal Reserve is scheduled to meet on Tuesday December 15.  The results of that meeting will be discussed at a news conference on Wednesday December 16 at 2PM.  Whether the Federal funds rate, the rate at which banks can borrow money overnight, will be increased...
11/30/2015
Stock futures began the day with a positive outlook before some disappointing domestic economic releases clouded the picture.  The Chicago Purchasing Manager's Index, which is considered a major barometer for future manufacturing, was down 10 points last month at 47 and below the 55 expected.  At...
11/30/2015
Mortgage backed securities (MBS) closed up 16 basis points today at 103.59 having closed exactly on resistance offered by the 25 day moving average.  MBS bonds had not closed at the 25 day moving average since October.  Although not a big move, this could bode well for the bonds in the short run....
11/30/2015
Just as bond traders found themselves in a virtual ghost town, the Thanksgiving weekend took its toll on equity traders as well which not surprisingly allowed for little movement in stocks.  Oil fell to below $42 per barrel.  The next big event on the horizon will be next week's government jobs r...
11/27/2015
Mortgage backed securities (MBS) close up 12 basis points today at 103.47 having broken through and closed above (ever so slightly) resistance offered at the 103.46 level.  During a holiday shortened and lightly staffed session, MBS bonds managed to break out of box they have been in for weeks.  ...
11/27/2015
Anyone interested in a trip to Europe for the long weekend?  If there were not so many fears of terrorism, it would be a good time to go as the Euro currently costs only $1.05.  With oil at $42 a barrel and the Euro so low, historically stocks would be dipping.  Now that equity traders here seem ...
11/25/2015
Mortgage backed securities (MBS) closed flat today at 103.38 having remained 29 basis points above support offered at the 103.09 level.  Typically there was little movement in bond markets the day before a long holiday weekend.  By 1 PM today there were virtually no veteran traders on the floor. ...
11/25/2015
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Thanksgiving   There are so many things to be thankful forWhere might I begin?Little faces to adoreAnd finally tucking them in Little boys and little girlsTo perpetuate our raceSimple toys and pretty curlsAnd a smile on every face Relatives of all shapes and sizes Available just when you want the...
11/25/2015
S & P futures began the day with slight increases.  Fed Governor Tarullo said today that the economy has not progressed very much and the Fed inflation goal will certainly not be attained.  This may have been an attempt to shed doubt as to whether the expected rate hike would actually happen next...
11/23/2015
Mortgage backed securities (MBS) closed up 3 basis points today at 103.34 having remained above support offered at the 103.09 level.  MBS bonds have now spent seven sessions in a tight trading range with little or no movement in rates.  The 30 year fixed conforming rate remained at 4.00%.  With D...
11/23/2015
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