This week's Economic News
Updated Oct. 9, 2013
Tuesday;8:30 July personal income and spending (income +0.1%, spending unch) 10:00 June factory orders (-0.5%) June pending home sales -5.0% 2:00 July auto and truck salesWednesday; 7:00 weekly MBA mortgage applications 8:15 ADP July private jobs estimate (+25K) 10:00 ISM Services sector index (53.0 frm 53.8...

Market Trend
Updated Oct. 9, 2013
The bond and mortgage markets opened stronger this morning with weaker stock indexes in the US and weaker global markets. We have warned for months that the global and US economic outlook had become too optimistic, over the last three weeks markets have swung almost 180 degrees from the "don't worry be...

Market Snapshot Week of August 23
Updated Oct. 9, 2013
Weekly jobless claims hit at 8:30 and were better than expected, down 31K compared to the estimates of down 15K. 473K new filings for unemployment isn't good but in this paranoid market environment it did put a bid in stock indexes and turned the treasury markets from early price gains to unchanged at 9:00....

Market Snapshot 10-28-10
Updated Oct. 9, 2013
After 5 days of selling in the rate markets, this morning a little improvement. Prior to 8:30 the 10 yr note held a 12/32 price gain and mortgages up 7/32 (.22 bp); at 8:30 weekly jobless claims were better halting any additional improvement. Claims for last week were expected to be up 3K to 455K, as reported claims...

Update on FHA Loans
Updated Oct. 9, 2013
FHA has increased Annual MI premiums across the board by .25% effective with case numbers issued on or after 4/18/2011.. The FHA is boosting the annual mortgage insurance premium charged on its home loans, a move that will increase the cost of an average FHA mortgage by about $30 a month.. Effective April 18, the FHA is...