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

ARCHIVED BLOG POSTS

2016 

I have a client who was floating into December because the longest rate lock her first time buyer program had was 60 days.  The election sell off in MBS bonds sent her rate from 3.875% to 4.125%  included buying down the rate from the then available rate of 4.375% using a pre-negotiated rate prot...
12/16/2016
Mortgage backed securities (MBS) closed up 3 basis points today at 101.09 and came to rest 362 basis points below the 200 day moving average.   The bad news is that the extreme volatility is still with us.  At one point during the day the bond was up 35 basis points.  All of that was lost prior t...
12/16/2016
MBS bonds continued to falter today in reaction to the Fed rate hike and hawkish projections.  At the same time the Consumer Price index measure of inflation was in accordance with estimates rising just .2%.  Initial job claims were just 2,000 below the 256,000 expected.  Both the Philly Fed repo...
12/15/2016
Mortgage backed securities (MBS) closed down another 38 basis points today at 101.06 and came to rest 367 basis points below the 200 day moving average.   The only good news today was that the bond closed 25 basis points above its low for the day. The 30 year was at 4.375%  today and may be highe...
12/15/2016
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These are truly wild times.  After trump's surprise election, bonds sold off causing interest rates to rise.  Today both stocks and bonds acted poorly in reaction to the Fed's rate hike.  On the 31st the Islamic citizens of the world, all 1.6 billion of them, will be able to buy gold as an invest...
12/14/2016
Mortgage backed securities (MBS) closed down a whopping 78 basis points today at 101.19 and came to rest 337basis points below the 200 day moving average.   After the Fed release the much anticipated rate hike, bond traders simply abandoned ship. The 30 year was at 4.25%  today and may be higher ...
12/14/2016
Here we are once again at Fed week.  The Fed Open Market Committee met today and will close its December meeting with Janet Yellen's traditional 2PM new conference.  Virtually all pundits are 100% committed to a .25% rate hike tomorrow in the federal fund rate which the Fed charges banks for hold...
12/13/2016
Mortgage backed securities (MBS) closed flat today at 102.19 after opening up a gap of 12 basis points and came to rest 258 basis points below the 200 day moving average.   During the day the bond was up and down 19 basis points before landing squarely in the middle.  The 30 year was at 4.125%  t...
12/13/2016
The world of Islam is poised to enter the gold market on December 31.  Mark that date on your calendar. It might be the largest single-day gold purchase day in history. That's when 1.6 billion Islamic people, 32 central banks and 112 billionaires will be able to buy gold due to a change in their ...
12/12/2016
Mortgage backed securities (MBS) closed up 7 basis points today at 102.19 after opening down a gap of 24 basis points and came to rest 258 basis points below the 200 day moving average.   The 30 year was at 4.125%  today.  If you have a rate of 5% or more it is still not too late to refinance; es...
12/12/2016
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