The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today, within the target range of 0.000-0.250 percent.  This doesn’t mean the Fed stood pat, however. On plan to resurrect the economy using “all available tools”, today, the Fed announced a new, $1.5 trillion...

Mortgage Rates improved slightly today. See Real Time Mortgage Rates This week, there isn’t much economic news upon which to trade, save for Thursday Retail Sales data.  Therefore, markets will look for other clues about the future of the U.S. economy. Tuesday, Fed Chairman Ben Bernanke has a...

Conforming mortgages are limited by loan size, based on “typical” housing costs around the country.  The current conforming limit on a single-unit property is $417,000. In 2008, as part of the Economic Stimulus Act of 2008, Congress authorized conforming loan limits increases in “high-cost”...

Today Mortgage Rates ended where they started.  Prior to Obama’s Foreclosure Plan speech  MBS reached their worst, which I am confident, put lenders fingers on the trigger.  During the speech the majority of the losses were recouped.  Overall we did see a good amount of action in the MBS today,...

Today was a surprise day for Mortgage Backed Securities; many prognosticators thought for sure we would see MBS plummet and start pushing Mortgage Rates towards 6% , with the signing of Obama’s Economic Stimulus.  The MBS (FNMA 30 YR 4.5%) acted in contrarian nature and posted a whopping 50pb...

The week started out in a positive manner with rates improving both Monday and Tuesday, only to stall out on Wednesday and give back the majority of the gains Thursday and Friday. Mortgage Backed Securities ended the week with only a slight 3bp gain over last week. Friday we saw MBS give up -28bp (FNMA...

February 10, 2009 was another positive day for Mortgage Rates.  Treasuries and MBS welcomed Geithner’s plan for Financial Stability.  Mortgage Backed Securities (FNMA 30 YR 4.5%) posted a 16pb gain.  This positive move helped silently bring down Mortgage Rates for consumers.  The details of Geithner’s...

What a way to start the week!  Mortgage Rates improved slightly today, look for even better pricing tomorrow, after MBS (FNMA 30 YR 4.5%) posted a healthy 38pb improvement.  Check Real time Mortgage Rates. For the technical’s Friday looked to be Morning DoJo, this could be the starting point...

The first week of February brought us another sobering week of increased Mortgage Rates.  The FNMA 30 YR MBS (the vehicle Mortgage Rates are based off of) gave up .35bp.  This in return pushed Mortgage Rates higher across the board. With an action packed week in Economic reports Fridays Employment...

Friday Mortgage Backed Securities (FNMA 30 YR 4%) finished positive for the day, although posting a loss of -.625bp for the week.  That said Mortgage Rates finished higher for the week and month (see chart).  Check Real Time Mortgage Rates. For a fourth consecutive QT the GDP posting loss of -3.8%. ...