Jeff Jensen's Blog

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

ARCHIVED BLOG POSTS

2016 

Winning streaks fell by the way side for both the Dow Jones Industrials and the Standard & Poor's 500 indices as losses for the month of August end streaks of 6 and 5 months respectively.  The NASDAQ did manage to post a gain of nearly a point in August.  Stocks were weighed down as crude oil fut...
08/31/2016
Mortgage backed securities (MBS) closed down basis points today at 103.72 having fallen below the 25 day moving average, remained above the 50 day moving averages and come to rest squarely on the 10 day.  We are still hoping for improved pricing in the weeks to come.  The 30 year conforming was o...
08/31/2016
Fed funds futures currently handicap the chance of a rate hike next month at 24%.  With the Donald and Hillary verbally assassinating each other over the news bureaus it is almost impossible to get anything done in this country.  I do not recall ever seeing such an onslaught of rude, ruthless rhe...
08/30/2016
Mortgage backed securities (MBS) closed down 9 basis points today at 103.72 having remained above the 10 and 50 day moving averages and come to rest squarely on the 25 day.  We are still hoping for improved pricing in the weeks to come.  The 30 year conforming was once again solidly at 3.50% toda...
08/30/2016
What a difference a weekend makes.  Friday's losses in MBS bonds and stocks turned into gains today as traders absorbed all last week's Fed speak.  The Fed's favorite measure of inflation, the Personal Consumption Expenditure, was up only .1% in July.  TheFed likes this index as the bucket of goo...
08/29/2016
Mortgage backed securities (MBS) closed up 31 basis points today at 103.81 having climbed back above the 10, 25  and 50 day moving averages.  We are still hoping for improved pricing in the weeks to come.  The 30 year conforming was once again solidly at 3.50% today for the best applicants who we...
08/29/2016
Today was the big day when Fed Chief finally gave her big address at the Fed;s annual Economic Symposium in Jackson Hole, Wyoming.  Here comments were basically fairly neutral suggesting that economic conditions had moved slowly toward the goals necessary to continue rates hikes.  Fed Vice Chair ...
08/26/2016
Mortgage backed securities (MBS) closed down 22 basis points today at 103.47 having fallen below 10,25  and 50 day moving averages and closed 15 points below the 50 day.  We are still hoping for improved pricing in the weeks to come.  The 30 year conforming was solidly at 3.50% again today for th...
08/26/2016
We only have to wait until tomorrow to hear Janet Yellen's scintillating comments at the Fed's Economic Symposium in Jackson Hole tomorrow.  Fixed income and equity traders danced around on their tip toes today trying not to step in the wrong spot for fear they might misplay tomorrow's comments f...
08/25/2016
Mortgage backed securities (MBS) closed down 3 basis points today at 103.69 having remained above the 10 and 50 day moving averages and landed right on the 25 day mvoing average.  WE are still hoping for improved pricing in the weeks to come.  The 30 year conforming was solidly at 3.50% again tod...
08/25/2016
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