Monthly Archives: February 2009

Our one trick pony (Federal Treasury) buying mortgage backs, attempting to keep mortgage rates low

Slip sliding away, you know the closer your destination , the more you slip sliding away. Simon and Garfunkel hit song not only talks about lost opportunities in life but in mortgage pricing as well. Case in point: Weekly unemployment … Continue reading

We expect the lower levels to hold and better mortgage pricing to emerge into next week

Sorry — this post was from yesterday — couldn’t get to WordPress! Here it is: With 5 minutes to go, stocks have rallied back from down over 150 points to nearly unchanged. With that trade, bonds set sail, falling off … Continue reading

The mortgage banking world is changing right before our eyes

The 10 year note is up 17/32’s (yield 2.72%), mortgage backs up 1/32nd, and stocks up 80 points on the Dow. Sir Bernanke is speaking on Capitol Hill and the President will address the nation tonight. The mortgage banking world … Continue reading

This type of market will typically tread water until better info becomes available, forming a trending market

Both stocks and bonds have been a little sloppy today, trading in opposite directions. Stocks opened on the plus side, getting a lift from White House statements talking about keeping banks and other financial institutions in private hands, not having … Continue reading

If this happens, your 401K which is now a 201K, will turn into a 101K…

Ah, meant to post this Friday…. Yesterday’s close on the Dow, a 6-year low, has brought back the flight to quality crowd who are hitting the offer for bonds, notes, mortgage backs, gold, and anything else that fall under the … Continue reading

Looks good but as many trader has said in the past, “don’t get married to it”

Meant to post this yesterday…. Doom and gloom as grabbed the stock market by the throat this morning, sending stocks reeling for nearly 300 points on the big board.  Pick your poison, whether it be: The Stimulus (Spending) Plan,  The … Continue reading

Stimulus Plan First-Time Homebuyer Tax Credit

Stimulus Plan First-Time Homebuyer Tax Credit The Stimulus Plan was signed into law by President Obama today. It contains a new tax credit for first-time homebuyers. Essentially, first-time homebuyers within certain income limits who purchase a home in 2009 before … Continue reading

If red is in vogue, then both bonds and stocks have dressed appropriately.

Happy Friday the thirteenth and Valentines eve.  If red is in vogue, then both bonds and stocks have dressed appropriately.  Stocks off 42 points on the big board, the 10-year note down 1 point( yield 2.85%), 30-year bond down 2 … Continue reading

Hot off the wire, the Obama Administration just announced plans to lower financing costs for homeowners with problem mortgages

Hot off the wire, the Obama Administration just announced plans to lower financing costs for homeowners with problem mortgages.  After testing the means of the borrower and setting a new value for the home, the government will subsidize the monthly … Continue reading

Market reaction has been bearish for both bonds and stocks

Weekly Unemployment Claims dropped 8K to 623K while Continuing Claims rose 11K to a new record high.  The four-week moving average rose to 607K, the first time we’ve been in the 600 handle since November 1982.  Retail Sales were also … Continue reading