ARCHIVED BLOG POSTS
2017
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After having the day off yesterday in observation of President's Day, equity traders seemed energized today as they went right back to pushing stocks to record highs once again. Wrap that up with a bevy of burgeoning earnings reports and beleaguered bulls stampeded in a hasty retreat. Filed und...
02/21/2017
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Mortgage backed securities (MBS) closed down 9 basis points today at 102.16 having fallen through support offered by the 50 and 25 day moving averages prior to closing just one point below the 25 day and above the 50 day moving average. The 30 year rate was at 4.25% today. If you have a rate of 5...
02/21/2017
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The idea for President's Day surfaced in 1800 just after George Washington's death in 1799. From that date many American communities celebrated in February to commemorate the man they considered the greatest American. The holiday was signed into law in 1879 as a holiday in Washington D.C. and in...
02/17/2017
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With S& P 500 futures pointing downward, MBS bonds and U.S. Treasuries began the day pointing toward their second consecutive day in the plus column. With no economic reports on the calendar stocks fell a little farther from their string of record highs. With a federal holiday looming, as the s...
02/17/2017
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Mortgage backed securities (MBS) closed up 13 basis points today at 102.25 having closed above resistance offered by both the 50 and 25 day moving averages and broken through but closed below the 10 day moving average. The 30 year rate was at 4.25% today. If you have a rate of 5% or more it is st...
02/17/2017
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Mortgage backed securities (MBS) closed up 31 basis points today at 102.12 having briefly popped above resistance offered by the 50 day moving average prior to closing just 1 point below it. The 30 year rate was at 4.25% today. If you have a rate of 5% or more it is still not too late to refinanc...
02/16/2017
The negative effect of Fed Chair Janet Yellen's comments yesterday about the time to raise the Fed loan rate is on the horizon continued to beat up bonds and buoy stocks today. Each of the three major indices here closed at records highs as a result while MBS bonds languished below all the day m...
02/15/2017
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Mortgage backed securities (MBS) closed down another 1 basis points today at 101.84 having remained below support offered by the 50 day moving average. The 30 year rate was at 4.25% today. If you have a rate of 5% or more it is still not too late to refinance; especially for those jumbo loans. W...
02/15/2017
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Janet Yellen was testifying before Congress to day and stated that she should not wait too long before increasing rates. In the same speech she said that the economy is not progressing as it should. With inflation still effectively quite low, that would seem to contradict her statement. As I h...
02/14/2017
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Mortgage backed securities (MBS) closed down another 16 basis points today at 102.03 after having fallen through support offered by the 50 day moving average. The 30 year rate was at 4.25% today. If you have a rate of 5% or more it is still not too late to refinance; especially for those jumbo lo...
02/14/2017
