Posted To: Mortgage Rate WatchAfter making noticeable improvements toward the end of last week, mortgage rates failed to extend positive progress yesterday. After a weak open, mortgage backed securities prices traded in a narrow range for most of the day. Despite MBS prices moving lower at the open, lenders were still able to offer aggressive mortgage rates, they were actually at their most aggressive levels since early December. Economic data picked up today… First out was the Mortgage Bankers Association Mortgage Application Activity report. This MBA survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
The Day Ahead: Jobs Data, Treasury Supply,Earnings, Bank Tax?
Posted To: MND NewsWireAfter shedding more than 1% yesterday equity futures have been volatile Thursday morning as investors anticipate earnings results and fresh economic data. 90 minutes before the bell futures on the Dow and benchmark S&P 500 are roughly flat. Meantime, WTI Crude oil is up 5 cents to $77.79 per barrel and Spot Gold is off $6.39 to $1,104.66 per ounce. Goldman Sachs is expected to see earnings per share of $5.20 in the fourth quarter, versus a loss of $4.97 a year ago, according to analysts polled by Thomson Reuters. After the closing bell, Google is projected to post earnings of $6.45 per share. Chinese real GDP rose at a better than expected pace of 10.7% in Q4, beating the previous quarter’s 9.1% increase. WSJ: President Obama to announce new proposals on Thursday EST aimed at constraining…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Warehouse Funding Line: A Mortgage Banker’s Best Friend
Posted To: The Garrett Watts Report“ Dog lovers have no problem telling you why the dog is considered man's best friend : Loyalty, unconditional love, companionship and laughs. Any doctor can also tell you that having pets makes our lives better and makes us healthier, by convincing us to be more active. You can't argue with the fact that we become much more relaxed, lowering our blood pressure, when our loving dog or cat comes to us to say hello and asks for a gentle pet.” This is part of an article written by Diane Chapman . A mortgage banker’s best friend is his warehouse lender (s). Without a warehouse lender, mortgage bankers can’t be a mortgage banker. With inadequate warehouse lines, mortgage bankers can’t grow and generate earnings. Some of the most stressful times for a CEO is when…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS AFTERNOON: AM Price Levels Return For Encore
Posted To: MBS CommentaryWe discussed 100-24 in MBS 4.5's this AM in the following context. "This is a classic example of inflection and/or pivot point. Technically speaking, we talk time to time about "one man's floor being another man's ceiling." The suggestion is that if a price level was "tested" and proved resistant to breakthrough, that once that level was finally broken, it's more likely to have ongoing technical significance and resistance to breakthrough coming from the other direction, aka "SUPPORT." And prices certainly had that chance to approach from the other direction as the 4.5 fell about 5 ticks from it's highs of the day. But 100-24 stepped up and indeed filled that support role. Remember, these pivot points aren't hard and fast rules, but…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Don’t mess with Texas: More Americans moving in
Americans, it seems, still have a love affair with the West. Texas and Wyoming were the big winners in the Census Bureau’s annual population estimates, which were released on Wednesday.
Record 3 million households hit with foreclosure in 2009
Almost 3 million homeowners received at least one foreclosure filing during 2009, setting a new record for the number of people falling behind on their mortgage payments.
Visa releases data encryption best practices
Securing credit card data is crucial. Visa has published a list of best practice recommendations in an effort to help merchants with that big task. Switched on: Cool Sound of TV Advertising Switched on: Cool Sound of TV Advertising This 42 Track Collection Includes Tracks Taken [...]
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