Santos's Blog

TGIF!!!!Surprise, surprise...more sub-prime mortgage related losses are hitting the financial sector this morning.  Stocks are trading lower and Bonds are trading slightly higher after Wachovia Corp announced a loss of $1.1 Billion in the value of their Collateralized Debt Obligations (CDO's).  C...

HAPPY THURSDAY AFTERNOON!!!  Fed Chairman Ben Bernanke is testified this morning before the Congressional Joint Economic Committee on the U.S. economic outlook and bonds took a little bit of a hit.  We started the morning at +9 basis points and it looks like we'll close the day out at -3 basis po...

GOOD Hump Day TO ALL! Bonds are closing out today flat, currently at ZERO, so there wasn't a change in mortgage rates today.  Stocks were punished this morning.  Leading the way down was a nasty earnings report from General Motors (GM), who announced a shocking third quarter loss of $39 Billion, ...

RATE INCREASE!  We expected rates to increase from yesterday's rate sheets following the stock market's rebound late in the day.  Again, stocks and bonds compete against each other so, typically, when one is having a good day, the other suffers.  WHAT'S GOING ON.....This morning, there are no eco...

GOOD MONDAY AFTERNOON, everyone!As we're heading for the close of the day, mortgage bonds are taking a hit.  Currently down -22 basis points so we may see lenders send a late-day, intraday rate increase.  If not tonight, it may spill into tomorrow's rate sheets.  WHAT'S GOING ON....More bad news ...

TGIF!!!!Another crisp Fall day here in Michigan!  I hope everyone had a fantastic Halloween and I hope everyone has scheduled an emergency dental appointment! :)On the business front......The best Jobs number in six months hit the wires this morning.  Non-farm payrolls were reported at 166,000 fo...

We were right on!  The Fed lowered the rate to 4.50%.  So how did mortgage bonds / interest rates react?  Believe it or not, we might see a rate increase tomorrow.  Anytime the Fed lowers this rate, there is always a concern over inflation.  So we'll see what happens!Have a GREAT Halloween! 

So how many of you spent time this week raking ALL of your leaves!  In my neighborhood, we have a ton of trees and it's a beautiful place to live.  But in the fall?  Let's just say it's not my FAVORITE time of the year!  But at least a 3 foot child won't disappear in my front yard because of all ...

Good Tuesday Morning!Yes, ZERO DOWN programs still exist!  Granted, the credit score requirement keeps itching up and guidelines are continously changing......but they do exist!  Ask me how I can help you move into a home with very little or NO money down.  Mortgage Rates as of today are 6.25% fo...

T.G.I.F! To All! Mortgage Bonds are rallying sharply higher this morning.  The reversal from the floor we had identified is continuing in full form, and adding even more favorable technical signals by way of a positive stochastic crossover.Giving Mortgage Bonds some additional help, is the tame r...