News on mortgage rates has shown that FHA mortgage insurance premiums have been on the rise in the past couple of years. The cost of monthly PMI on FHA insured mortgage loan services has basically doubled in the past 24...
No news today but that will all change starting tomorrow with Retail Sales, PPI (inflation at the wholesale level), and housing data. Matter of fact, the balance of the week will be filled with inflation and housing info...
Treasuries have taken some more heat on the news that Moody's warned the outlook on the U.S. could be cut if no progress is made on the debt ceiling. The risk of short-lived default by the U.S. is very small, but rising....
Quick update today as the market is starting to move. We priced this morning up 3/32's but are currently down 1/32nd, teetering with a worsening price change. Part of this could be hedging for 34 billion in 5 year notes...
Stocks took a beating out of the gate, setting the stage for slight improvements in both treasuries and mortgage backs. With the Dow currently off 150 points, the 10 year note is up 11/32's but mortgage backs/mortgage...
Interest rate movement has been of the whip saw variety with follow through selling early this morning on technically bearish behavior (yesterday). Unemployment Claims falling 29k added to the pressure. Then came the Philly...
Minutes of the last Fed Open Market Committee meeting were just released. Interesting that the Fed is starting to focus on inflation and outlining how they would tighten monetary policy (raise rates). That however will not be...
No news this morning yet bond and mortgage back trading pits have been active. Stocks rebounding and 10 year notes at their best levels since last December, coupled with overbought conditions has led to a round of...