Good morning, amazingly enough I am actually in my office today, though tired from the last two weeks of a hectic schedule. And mortgage backed securities are looking rather tired as well, but only getting tired of being “trapped” in a narrow trading range. More on that later.
Looking back over the last week, we saw [...]
Greetings from Cancun, Mexico this week and the beach sure looks a lot better than the mortgage bond trading pit. Things are already looking ugly for mortgage bonds, but I will get back to that in a moment.
Last week saw mortgage bonds start off in another rally mode, though they came under attack even as [...]
Greetings from Santiago, Chile this morning, though this post was actually written mostly over Cuba last night. Speaking of Cuba, there is talk around the internet about the Fannie Mae/Freddie Mac takeover, excuse me, “conservatorship”, being another step toward socialism in America.
Who could forget how the week got started with the news of another [...]
By now you have heard that the government has basically taken over Fannie Mae and Freddie Mac, something I had mentioned would happen. As with virtually all government takeovers, the official word hit the airwaves while “most” Americans were in church (Sunday Morning). More on this and its effects later.
Looking to the last week, mortgage [...]
Greetings from Sao Paulo, Brazil and I hope you are having a wonderful Labor Day. Speaking of Labor Day, for those of you who don’t know, the markets are closed today.
Last week was a fun ride, that is until Friday. Mortgage backed securities climbed the first four days as stocks fell on news favoring a [...]
Greetings from Buenos Aires, Argentina this time. Just last night I was in Miami, FL, now I am in Buenos Aires, and by tomorrow morning I will be in Dallas, TX. Mortgage backed securities are having a similar tale, you just don’t know where they will be next.
Why?
Well, let’s review what happened this last week [...]
It is bright and early Monday morning and most of you are likely still sleeping. Nevertheless, this post is coming early since bonds may finally be ready to break the barriers of resistance. But, let’s recap what has happened this past week.
Right now, the United States and China are in a battle for Olympic Medals. [...]
We had a lot of news and data to digest in the market last week, once again showing the volatility and stressing the importance of following the right securities (MBS) to provide guidance to your clients. Mortgage bonds managed to only lose 15 basis points for the week. Let’s jump right in.
What a week we [...]
Once again, I am getting this update out Sunday night instead of the usual Monday morning. A lot of things happened this week, some good and some bad, but mortgage rates hardly moved, though they did tick just a notch lower by week’s end.
The week was off to a good start with mortgage backed securities [...]
I am writing this week’s update Sunday since I will be a little busy tomorrow. A lot of things happened this last week, some good, and much bad, starting with the whole housing bill that is going to be crammed down our throats. More in that later this week, if I can find the time. [...]
This time, I am in Washington, DC, another appropriate place for this week’s update (no, I don’t plan this ahead of time). With the government’s own actions being one of the chief causes for mortgage rates climbing, we can expect more of the same on the way.
Inflation is the bigger fear these days and that [...]
If things are broke, fix it. That is the story of my trip this morning as the aircraft is broke in Philadelphia and that is the story happening in the mortgage market with Fannie Mae and Freddie Mac. More on that in a bit.
Last week saw a wonderful looking pattern fall to pieces and the [...]
Last week was a shortened week, but certainly not full of surprises, ending the week with bonds lower, rates slightly higher. Looking back, we can clearly see bonds are faltering yet again.
The week had plenty of data to get the markets moving, but the shortened trading week brings lower volume and sometimes “mood swings.” Chicago [...]
Blogging from the Big D this week (Dallas, TX that is), actually I am about to get on a flight heading back to Miami to get at least a half day in the office today. The story of how I got to Dallas yesterday is rather fitting for this week’s post. Here is a brief [...]
Wow, mortgage backed securities finally changed direction, even if just for a bit. I hope you all were paying close attention and were able to help your clients cash in on the correction. Just how long is it going to last though?
Last week did not have a lot of data coming in so it relied [...]
Greetings from Madrid, Spain. In the last week, I have flown from Las Vegas to Miami, FL, down to Santiago, Chile and back and now I sit in Madrid. Doing this much travel makes one wonder where am I and where am I going? The good news for my travels is that [...]
Greetings from Vegas, baby. What a place to start of this week. Quite appropriate since this is the city where a lot of people lose their money and bonds will be struggling again this week.
First, let’s get into what happened in the bond’s “pit of despair” this last week. Getting the week [...]
How many of you wanted to pull the rip chord last week? As we saw, inflation again took the markets and sent bonds into a virtual freefall, sending rates about 1/4 point (0.25%) higher.
As I mentioned mast week, shortened trading weeks usually bring extra volatility to the markets and we saw it. Inflation was at [...]
Cliff Pape asked me to do a post on how “inflationary expectations” for those who may not be familiar with its effects on mortgage rates both near and long term. His main concern is how it pertains to borrowers buying a mortgage today and for those hoping to refinance in two or three years, [...]
I hope everyone had a great extended weekend and kept the thoughts of those who have fought and those who continue to fight for our freedom on your hearts yesterday. Now, down to business. If I had to sum up last week’s main movement into one word, it would have to be “inflation”.
There [...]
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