Another Week of Volatility

Updated on October 16, 2011 8:23 PM EST:   This week brings us the release of seven economic reports for the markets to digest, in addition to a speaking engagement by Fed Chairman Bernanke. Also worth noting is the fact that this will be an extremely busy week for corporate earnings, which usually translates intoContinue reading “Another Week of Volatility”

Market Update

Updated on October 11, 2011 12:26 PM EST Tuesday’s bond market has opened well in negative territory as a reaction to yesterday’s rally in stocks. The bond market was closed yesterday in observance of the Columbus Day holiday, but the stock markets were open for trading. The Dow and Nasdaq both rallied yesterday 330 pointsContinue reading “Market Update”

Mortgage Rates Improve on the downgrade of the US Credit Rating

You know by now S&P late Friday lowered the US credit rating to AA+ frm AAA; treasuries and mortgages markets opening better today on safety and panic moves while the stock market is being hit hard on the open. S&P has been warning for weeks it was preparing to lower the credit rating, the nextContinue reading “Mortgage Rates Improve on the downgrade of the US Credit Rating”

Mortgage Rates Improve on more bad Economic news…

Treasuries and mortgage markets were rallying early and got an additional boost at 8:30 on weekly jobless claims. Claims were thought to be about unchanged, as reported up 9K to 429K, the 11th week in a row over the key 400K level. Labor said six states were “estimated” due to computer issues so we don’t reallyContinue reading “Mortgage Rates Improve on more bad Economic news…”

The Real Market News

Early this morning the 10 yr note made a new low yield at 2.88% from 2.97% at the end of yesterday on increasing concerns over Europe’s debt problems headlined by Greece. The European Union’s failure to contain the Greek debt crisis is sending fresh shockwaves through currencies, money markets, equities and derivatives. The cost of protectingContinue reading “The Real Market News”

What’s really happening

Stocks fell in Europe for a sixth day, U.S. index futures declined and the yen strengthened as concern deepened the global recovery may slow. Copper led commodities lower, while oil dropped as OPEC meets. The US stock indexes traded weaker all morning into the open with the DJIA lower; a close lower today will beContinue reading “What’s really happening”

Memorial Day, The True Meaning

Memorial Day is a day of remembrance of those who have died serving our country.  General John Alexander Logan ordered the Memorial Day holiday to be observed by decorating the war dead.  The day became known as “Decoration Day” because of the practice of decorating soldier’s graves with flowers. In 1971, Memorial day was declaredContinue reading “Memorial Day, The True Meaning”

Mortgage Network Earns 98.86%

Published on CNBC DANVERS, Mass., May 02, 2011 (BUSINESS WIRE) — Mortgage Network, an industry leading independent mortgage lender, today announced the results of a recent customer satisfaction survey showing that over 98% of customers would use Mortgage Network again. Also, over 98% of customers would recommend a friend. A standard that MNI believesContinue reading “Mortgage Network Earns 98.86%”

What I am Hearing in Markets

This Week; is Holy Week. Trade likely will be quiet with the religious holiday. Most all of the data points this week are centered on the housing sector; starts and permits for Mar, new and existing home sales, the NAHB housing market index Monday and the FHFA housing price index on Thursday. The only otherContinue reading “What I am Hearing in Markets”

How To Kill The Economy

The proposed regulations governing the Qualified Residential Mortgage (QRM) exemption from risk retention rules constitute a “devastating, unnecessary and very expensive wrench (thrown) into the American dream” according to a white paper released Wednesday by a consortium of housing industry groups. The paper was published in advance of a scheduled hearing of the House SubcommitteeContinue reading “How To Kill The Economy”