ARCHIVED BLOG POSTS
2017
1
Comments
With no economic reports being issued today, stock traders had no guidance but to reflect on the successes of recent session. It turned out to be a reflection in a golden eye a la Elizabeth Taylor, as all three Major U.S. indices hit new record highs. Texas cured oil lost 1.3 today and still cl...
02/13/2017
0
Comments
Mortgage backed securities (MBS) closed down another 12 basis points today at 102.19 after having opened down a gap this morning and fallen through the 10 and 25 day moving averages. 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; espec...
02/13/2017
0
Comments
Stock futures opened moderately higher this morning with traders continuing their ebullience about the impending Trump tax reductions. Surprisingly OPEC, the Organization of Petroleum Exporting Countries, complied with their promise by cutting their oil production a whopping 92%. OPEC is not kn...
02/10/2017
0
Comments
Mortgage backed securities (MBS) closed flat today today at 102.31 after having opened down a gap this morning. The 30 year rate was clinging to 4.125% today only for the most highly qualified buyers. If you have a rate of 5% or more it is still not too late to refinance; especially for those jum...
02/10/2017
1
Comments
Stock traders succumbed to tantalizing comments by President Trump today about a big tax announcement coming in the near future. The allure of tax cuts creates dreams of consumer spending and improved revenues for retailers and manufacturers. All three U.S. indices closed up today and crude oil...
02/09/2017
1
Comments
File this under here today gone tomorrow. Mortgage backed securities (MBS) closed down 31 basis points today at 102.53, having lost every penny of yesterday's nice gain. The 30 year rate was at 4.125% today with the 30 year jumbo just an eighth above at 4.25%. If you have a rate of 5% or more ...
02/09/2017
While stocks changed little in a mixed market, MBS bonds continued their recent climb and have come back more that half way from the depths to which they sank after the election and the January Fed meeting. The world is still trying to adjust to Trump's style and figure out his methodology of ne...
02/08/2017
1
Comments
Mortgage backed securities (MBS) closed up 31 basis points today at 102.84, having closed just 63 basis points below resistance offered by the 100 day moving average. The 30 year rate was at 4.125% today with the 30 year jumbo just an eighth above at 4.25%. If you have a rate of 5% or more it i...
02/08/2017
1
Comments
With no major economic reports scheduled for today stock futures and the dollar looked stronger today as the Philadelphia Fed President, a voting member of the Open Market Committee, called for a rate hike in March. You can never really judge the certainty with only one Fed speaker commenting as...
02/07/2017
0
Comments
Mortgage backed securities (MBS) closed up 12 basis points today at 102.53, having closed 97 basis points below resistance offered by the 100 day moving average at 103.50. The 30 year rate was at 4.125% today with the 30 year jumbo just an eighth above at 4.25%. If you have a rate of 5% or more...
02/07/2017
