First Time Home Buyers
From the monthly archives: October 2008
Mortgage bonds followed up Monday’s rally with a 0 basis point change on Tuesday.
There is nothing big in the news today, but bonds are trading slightly higher, continuing to push mortgage rates lower.
Oil is trading below $69 a barrel and is at the lowest price since last August. This removes [...]
Continue Reading →Mortgage bonds jumped yesterday. This was largely on news that PIMCO, the massive Bond Fund, is now holding almost 80% mortgage backed securities. Essentially, this means that their move from Treasuries to Mortgage Bonds is a massive investment stating that they are safe enough to warrant the risk.
This is good news and [...]
Continue Reading →Stocks are in the black today as it appears that the markets are believing that the government’s rescue plan both domestically and in concert with other global central banks will ultimately help the economic situation.
Mortgage rates are improved over the past few days and, currently, mortgage bonds are fighting through resistance at [...]
Continue Reading →Mortgage bonds are attempting to rebuild a base after being beat up for the past few days.
After seeing mortgage rates hit 2008 highs earlier this week, bonds are attempting a fairly aggressive comeback.
New Home Sales were weaker than reported and at their lowest levels in 17 years. Building permits [...]
Continue Reading →For all of 2008, we’ve been talking about unprecedented volatility. Yesterday was one of the craziest rides of the year. For a bit, mortgage bonds were off 50 basis points before surging back to close up nearly 90 basis points.
Mortgage rates, of course, fluttered all day. Now, we’re still off nearly [...]
Continue Reading →Due to the recent market trend, we are again switching our focus from the Fannie Mae 5.5% bond to the Fannie Mae 6.0% bond as it more closely follows the current rate market.
We’re in another interesting spot here where mortgage bonds have lost 200 basis points in just three days. We’re now [...]
Continue Reading →The financial markets have opened the week with a long-awaited rally. Stocks are surging; however, this money is coming out of Treasuries. So far, mortgage bonds are actually trading slightly higher by 3 basis points.
There’s been an interesting switch on the Federal Government’s $700 billion rescue plan and, frankly, it’s a good plan. [...]
Continue Reading →Can you make lemonade out of a mortgage backed security pool?
The global economy is sputtering and we’re seeing the equity markets take a beating in response. Over $25 Trillion has been lost already this year.
Both stocks and bonds are getting battered right now and, if I can’t find anything nice to say, my [...]
Continue Reading →Stocks are having a better day today as the Central Banks in Asia joined the coordinated cut from the US, ECB, UK, Sweden, and Switzerland.
The labor market continues to be weak with the four-week average of new claims still at a seven-year high and the continuing claims at a five-year high.
Mortgage bonds [...]
Continue Reading →The Federal Reserve cut the Fed Funds Rate by 50 basis points.
Volatility has been a recurring theme, but today has been ridiculous. We’ve added and dropped 20, 30, even 50 basis points each time my live ticker is updating.
Here’s what’s happening: The Fed led a coordinated rate cut between the [...]
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