ARCHIVED BLOG POSTS
2017
History will be made tonight as New President Donald Trump will make his first address to the joint houses of Congress. What will he say? It is thought that he will stick mainly to health care, tax reform and defense spending. If you have been watching the Donald over the years, however, you c...
02/28/2017
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Mortgage backed securities closed down 19 basis points today at 102.28 having fallen through support offered by the 10 and 25 day moving averages prior to closing right at the 10 day. Bonds are a little spooked in anticipation of what President Trump might say in his speech to the joint houses o...
02/28/2017
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President Trump is poised to deliver a major address tomorrow regarding the infra structure. He is also reportedly going to give a major gold boosting stimulus in mid march. There are rumors circulating the famous investors like George Soros and Warren Buffett are filling their coffers with gol...
02/27/2017
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Mortgage backed securities (MBS) closed down 31 basis points today at 102.478 having lost every single bit of last Friday's advance. At one point during the session the bond was down 47 points. The 30 year rate remained at 4.125% today for both conforming and jumbo loans. If you have a rate of ...
02/27/2017
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While MBS bonds cruised to their highest level in weeks and are now more than 100 basis points above last week's low, U.S. equities climbed higher today. With consumer sentiment high, stocks had a bumpy ride but managed to eke out gains as the Dow registered its 11th consecutive record high. Go...
02/24/2017
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Mortgage backed securities (MBS) closed up 31 basis points today at 102.78 having risen up to 102.81 during the session prior to closing just below it. The bond closed just 35 basis points below the 100 day moving average at the highest level in two weeks. The 30 year rate remianed at 4.125% to...
02/24/2017
After all that bad things we have heard about the Veteran's Administration in recent years, it is time to express thanks for the VA loan program. This program, exclusively for veterans, provides them with extremely low rates, the opportunity to buy a house with literally zero down and many times...
02/24/2017
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Mortgage backed securities (MBS) closed up 19 basis points today at 102.47 having broken through and closed above resistance offered by the 10 day moving average. The 30 year rate dropped to 4.125% today. If you have a rate of 5% or more it is still not too late to refinance; especially for thos...
02/24/2017
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S & P futures opened lower this morning in anticipation of the release of the minutes from last month's Fed Open Market Committee. The Mortgage Banking Association reported that the average 30 year conforming mortgage rate rose to 4.36% last week. Here at the Federal Savings Bank our rate was a...
02/22/2017
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Mortgage backed securities (MBS) closed up 6 basis points today at 102.22 having broken through offered by the 25 and 10 day moving averages prior to closing just one point below the 10 day and above the 25 day moving average. The 30 year rate was at 4.25% today. If you have a rate of 5% or more ...
02/22/2017
