Tag Archives: DOW

Next few days could be high volatility, market moving affairs with the mid-term elections, FOMC meeting, and a boat load economic data culminating with the Employment Report on Friday

November 1, 2010

Mortgage backs have slipped into the red. As I mentioned last week, the next few days could be high volatility, market moving affairs with the mid-term elections, FOMC meeting, and a boat load economic data culminating with the Employment Report on Friday. Continue reading →

About QE2 – interesting how much it will cost the tax payers to keep the doors open at Fannie/Freddie

October 22, 2010

About QE2 – interesting how much it will cost the tax payers to keep the doors open at Fannie/Freddie. I’ll try to make some sense of it all this afternoon. Continue reading →

Call it neutral/bearish and not a market to throw caution to the wind

October 15, 2010

Next week will be the true test, one that we would expect will see the market trade sideways to a little better (slightly improving mortgage pricing). Overall, we think this is the low probability trade as QE2, even though it is fully priced in, is a force to be reckoned with. When the Government is the buyer of choice, most follow the ant age, “Don’t fight the Fed.” Continue reading →

As we have preached all week, defense is your friend, Austin mortgage borrowers, and the exclusive float down option from Max Leaman is a no brainer

October 15, 2010

Call the market neutral/bearish with good support nearby. As we have preached all week, defense is your friend, Austin mortgage borrowers, and the exclusive float down option from Max Leaman is a no brainer. Continue reading →

Given the “juice” provided by QE2 (rumor or real), we may be set up for a blow off top and hard reversal

October 6, 2010

Given the “juice” provided by QE2 (rumor or real), we may be set up for a blow off top and hard reversal Continue reading →

Just the thought of Quantitative Easing 2 has put a floor under Austin interest rates

October 5, 2010

Just the thought of Quantitative Easing 2 has put a floor under Austin interest rates. Why many expect the Fed to move in that direction (November meeting), nothing has yet to happen. Fed Chief Bernanke is leading the QE2 charge, talking about “additional purchases” and how it was an “effective program” earlier in the year. Continue reading →

USDA Rural Housing program will operate under Continuing Resolution authorization until the Agricultural Appropriations budget is finalized

September 30, 2010

At the start of the new fiscal year(tomorrow), it appears the USDA Rural Housing program will operate under Continuing Resolution authorization until the Agricultural Appropriations budget is finalized. This frequently happens at the start of the new fiscal year when the House and Senate don’t finalize the budget prior to year end. Continue reading →

Overall, we see the stock market as moving away from any notion of a double dip, instead feeling a little giddy about taking on more risk

September 27, 2010

Overall, we see the stock market as moving away from any notion of a double dip, instead feeling a little giddy about taking on more risk. Reason being is that traders view one of two scenarios playing out, both good for stock prices. Continue reading →

Austin Mortgage Market Update – For the week of September 27, 2010

September 27, 2010

As promised, last week’s reports gave us a complete picture of the housing market in August. Housing Starts rose 10.5% month-over-month to a 598,000 annual rate, well ahead of the expected 550,000 number. Building Permits, which reflect builder sentiment further out, grew a more modest 1.8% month-over-month to a slightly smaller 569,000 annual rate. Thursday, Existing Home Sales came in UP 7.6% over July, at a 4.13 million annual rate. But let’s remember, July was a record low, so this gain still left sales down 19% from August a year ago. The median price for Existing Homes, however, ticked up 0.8% year-over-year, as reported by the National Association of Realtors. Continue reading →

Overall, we see the fixed income market as “soft” but not in a hurry to head towards higher Austin mortgage rates

September 25, 2010

Overall, we see the fixed income market as “soft” but not in a hurry to head towards higher Austin mortgage rates. Just like I mentioned earlier today, the trade is one of consolidation and near good support. Continue reading →