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A Look At The Week Ahead
Mortgage bond prices rose last week pushing mortgage interest rates lower. Rates initially spiked higher following higher than expected producer price index figures. Fortunately the consumer price index showed tame inflation on the consumer level and mortgage bonds were able to recover. The Fed kept rates unchanged, indicated they would try to keep rates low for some time, but also warned that long... [Read more]
“At The End Of The Day” Report
Lots of economic releases, all of which still show and EXTREMELY SLOW recovery in the economy. The first release, and the most concerning for myself, is the Homebuilder Sentiment Index. Obviously, this number is a survey of how builders feel about new home construction. The index, when the economy is good and new homes are doing well, comes in above 50. When the number is below 50, the sentiment... [Read more]
Mid-Day Mortgage Rate Update
Trading activity has almost ground to a standstill in the mortgage market as investors choose to take a cautious “wait-and-see” approach in front of the last Federal Open Market Committee meeting of 2009. The text and tone of the Committee’s post-meeting statement (scheduled for release at 2:15 p.m. ET, Wednesday, December 16th) will contribute significantly to the trend trajectory of mortgage... [Read more]
Morning Report: This Week In The Market
Mortgage bond prices were near unchanged last week holding mortgage rates steady. Trade was extremely volatile with wide swings common. The Treasury auctions were not as well received by foreign accounts as traders were hoping. The US relies on foreign central banks such as China to fund our deficit spending. If China were to decrease or cease purchasing US bonds and notes, rates would rise. The... [Read more]
“At The End Of The Day” Report
Imagine, if you will, standing at home plate. It is the bottom of the 9th inning, and you’re at bat. Three balls and two strikes. Bases loaded. Here’s the pitch……..STRIKE THREE! That is the image I get when I read of what the House passed today in Washington. In an attempt to place regulations in the entire finance industry, from Bill’s Bank and Trust, to World... [Read more]
