Traveling across the globe gets tiring after a while, and getting back early in the morning certainly doesn’t help the situation. Mortgage backed securities appear to be tired of the current situation as well, unable to rally further and mortgage rates ended the week slightly higher as a result.
Last week saw a bit of a [...]
As I have mentioned many times before, the only way we could get mortgage rates down this low was with the Fed buying up mortgage backed securities and creating an artificially inflated market, aka the “mortgage rate bubble”. They have been the creators of the bubbles in the past through their actions, so why should [...]
Everyone out there, especially guys, should know what day Saturday is. If not, here is a quick reminder that it is Valentine’s Day and you better get off your bets and get your significant others’ something. In the meantime, we are still waiting to see if there will be any “love” for mortgage backed securities [...]
I managed to pull off another week of writing this in the United States, and mortgage rates managed to tick higher, yet again. I guess the Fed is waiting on something else (maybe a new infusion of cash from Congress?) before they try to drive rates lower, or even keep them level. It does sound [...]
I managed to pull off another week of doing this report from my laptop in my home city, go figure. Unfortunately, the Fed was not up to the challenge of maintaining low interest rates through their persistent “buyer of first resort” strategy, and mortgage rates rose about .25% as a result.
Last week was a short [...]
I think I set a record number of weeks in a row that I have been able to write this report from my office or home. I may even be able to do it again next week and that is similar to the way mortgage backed securities will likely trade going forward.
Mortgage rates did tick [...]
When you travel as much as I do, eventually you cannot find new places to go, which is where I find myself as I have been just about everywhere I can go in my current aircraft. Mortgage bonds, however, with the aid of the Fed, have managed to break into new territory.
As promised, the Fed [...]
Out with the old and in with the new, at least that is how the calendar looks as we said so long to 2008 and welcome in 2009. Mortgage bonds did not receive a very warm welcome, however, closing down the first day of trading in the new year. Unlike the Christmas week, this week [...]
Greetings from Sao Paulo again this week. I hope everyone had a very Merry Christmas and didn’t travel as much as I have in the last week or so. Last week didn’t see as much volatility as usually can be seen with shortened trading days and a shortened week, and mortgage rates ending the week [...]
Just got back from another all-nighter from Brazil, which has become somewhat of the “norm” for me. Likewise, we are seeing much of the “norm” in the mortgage bond market at the moment.
Last week was rather interesting to say the least, but certainly not unexpected. Mortgage rates managed to edge out some nice gains, primarily [...]
What an interesting week we had last week, with mortgage backed securities closing the week at their highest level in five years, something I have been saying was coming all week on Florida Mortgage Daily, despite the hiccups that caused rate lock alerts. So, what does the future hold for mortgage rates?
Before we answer that [...]
Greetings from Santa Cruz, Bolivia this time. Saturday night, part of our voyage was to fly to La Paz, Bolivia, then over here. You may have already heard of La Paz due to its airport being the second highest commercial airport in the world with an elevation of just over 13,300 feet. Since the airport [...]
I hope everyone had a great Thanksgiving Day, and there was plenty to be thankful in the mortgage markets with the early Christmas gift from the Fed that sent mortgage backed securities higher and sent mortgage rates lower, kicking off increased inquiries for mortgages. But was that all that happened last week?
Certainly not, as [...]
This week is a week to be thankful as we are going to have a shortened trading week due to Thanksgiving. My original plan was to write this while flying over the Amazon, but couldn’t exactly figure out how to use piranha to describe the markets and chose to sleep instead (it was an overnight [...]
If the mortgage market collapses this week, just “Blame it on Rio,” as that is where this week’s market update is coming to you from. After all, with the volatility of last week’s shortened trading week, and the volatility sure to come next week as we give thanks, we need to put blame somewhere.
Looking back [...]
Many of you are probably wondering why this week’s update is so late and please accept my apologies for the fact that it is. Today was my checkride to allow me to keep flying and as such, I tend to “disconnect” emotions and extraneous thoughts, and I forgot to upload this morning’s update. The funny [...]
Greetings from Recife, Brazil. This city’s beaches are known for having the highest amount of shark attacks and the sharks may have a feeding frenzy on mortgage bonds this week.
Last week saw further deterioration of mortgage backed securities, but the good news is they finally found a support layer that held and the bleeding [...]
Do you ever wake up and wonder where you are and where are you going? This morning’s update is coming to you from San Juan, PR, where I ended up last night in a last minute change of schedule. As I woke up this morning, the news flashed on CNBC and it looks like the [...]
Greetings from down under this morning, Brazil that is. Yes, I was off the cruise ship and right to work yesterday with little time to “catch up” on what I had been missing last week so this morning’s update is delayed slightly while I went through literally thousands of emails and thousands more RSS feeds. [...]
This report, as I sometimes do, is coming to you Sunday instead of the typical Monday morning. This time I am tired and need a break, so I am headed on a cruise (actually writing from the ship right now). Bonds will also get a much needed break, as Monday is a holiday and the [...]
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