ARCHIVED BLOG POSTS
2016
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FEd Chairwoman Janet Yellen's much anticipated mesmerizing soliloquy will be occurring this Friday at the economic symposium in Jackson Hole, Wyoming. Crude Oil futures rose to above $47 today as the average 30 year conforming loan (for loans of $417,000 or less) rate today increased to 3.67%. ...
08/24/2016
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Mortgage backed securities (MBS) closed down 3 basis points today at 103.72 having remianed above all the moving averages. Improved pricing may still be hovering in the near future. The 30 year conforming was solidly at 3.50% again today for the best applicants. Whether in Essex Fells, Princet...
08/24/2016
Fed Chairwoman Janet Yellen will grace the annual economic symposium at Jackson Hole, Wyoming once again this week. Jackson Hole which is known best as being the eastern border of the Rocky Mountains, may become the home of the harbinger of future economic policy. Yellen's words will be careful...
08/23/2016
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Mortgage backed securities (MBS) closed up 3 basis points today at 103.75 having broken through resistance offered by the 10 day moving average. Improved pricing may still be hovering in the near future. The 30 year conforming was solidly at 3.50% again today for the best applicants. Whether i...
08/23/2016
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Fed Vice Chairman Stanley Fischer made a particularly "hawkish" comment today intimating that we are quite close to their goals for raising the rate they charge for member banks to borrow funds overnight.. As we have discussed in the past this should have no immediate deleterious affect on mortga...
08/22/2016
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Mortgage backed securities (MBS) closed up 16 basis points today at 103. having broken through resistance offered by the 10 day ,25 day and 50 day moving averages prior to closing just one point below the 25 day and above the other two. We are still hoping for some price improvements in the shor...
08/22/2016
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Once again today Fed speakers gave mixed messages about a possible September rate hike. Dallas Fed President Kaplan said that the market at little wiggle room due to the sluggish economy while San Francisco Fed President William advocated a quicker move to raise rates. MBS bonds were down 22 ba...
08/19/2016
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Mortgage backed securities (MBS) closed down 22 basis points today at 103.53 having fallen through support offered by the 10 day,25 day and 50 day moving averages all in one day. We are still hoping for some price improvements in the short run. The 30 year conforming remained tentatively at 3.5...
08/19/2016
Weekly initial unemployment claims came out today showing just below the 265,00 expected with 262,000 new claims. The Philly Fed employment component painted a gloomy picture today dropping to the lowest level of the year. That may dampen the comment Tuesday by New York Fed President Dudley abo...
08/18/2016
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Mortgage backed securities (MBS) closed up 6 basis points today at 103.72 having broken through support offered by the 10 day moving average and closed above all the moving averages once again. We are still hoping for some price improvements in the short run. The 30 year conforming remained soli...
08/18/2016
