Posted on Wednesday, 22nd July 2009 by chrisjones

Markets: Yesterday was a good day up, and today is down only slightly, so it appears we might hold our gains.  We gained 65 bps yesterday and have lost back 16 so far today, which on net is pretty good.  For the uninitiated, there is a strong correlation between mortgage-backed securities (mbs) and mortgage interest [...]

Tags: lehi lender, mortgage rates, RateWatch, utah mortgage, utah mortgage broker, utah mortgage lender
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Posted on Tuesday, 30th June 2009 by chrisjones

Markets: Mortgage-backed securities are down 9bps, which is nothing.  We were down 44 at one point today, but we’ve crawled back on the shocking news that most people think the economy is crap.  Rates are still drifting down slowly.  We’re in the low 5% range on most everything as long as you have good credit.
Analysis: [...]

Tags: mortgage rates, RateWatch, utah broker, utah mortgage rates
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Posted on Thursday, 21st May 2009 by chrisjones

Market:  We got whacked today by a report out of CreditSuisse that speculates that the Fed will slow down its buying of mortgage-backed securities in order to conserve its cash, so that it can keep rates lower longer.  This is speculation.  I think they’re wrong.  This doesn’t matter at all, because the markets spooked and [...]

Tags: mortgage lending, mortgage rates, RateWatch
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Posted on Tuesday, 7th April 2009 by chrisjones

Quick Market Read: Flat and slightly up for mortgage-backed securities, reversing last week’s trend.  Rates holding just under 5% for most programs.  It’s a short week for bonds because of Easter, so they’ll only trade until Thursday.  Fed buying is outmuscling the market, and there is no significant economic news this week.

Today’s Nugget: CNN and [...]

Tags: CNBC, mortgage rates
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Posted on Thursday, 19th March 2009 by chrisjones

Yesterday the Fed announced a couple of things of critical import to the mortgage world.  One, it is not doing much of anything with the Fed rate for the forseeable future.  There is not going to be a rush to raise interest rates even if the economy improves dramatically, and there’s no reason to think [...]

Tags: Fed, MBS, mortgage rates
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