Friday, May 31, 2013
If a market were a novel it would be titled, “Great Fedspectations.” Investors are clinging at any piece of data that might suggest the Fed will stop QE sooner than expected, adding the volatility we have seen recently. Treasury 10-year notes rose, over night with yields paring the biggest monthly gain since December 2010, amid speculation U.S. spending stagnated last month. This underperforming indicator is a sign that recovery is still uneven and may prompt the Fed to continue to purchase mortgage debt. We will close the week with Consumer Sentiment
Friday, May 24, 2013
Good news for the ECONOMY is BAD news for INTEREST RATES
Another day, another re-price as the market continued to sell off. Economic indicators have taken on a new significance since Bernanke claimed QE tapering would depend on these weekly reports. This data dependent monetary policy could add even more volatility to the market. Economists forecast durable goods orders increased after falling the most in seven months in March. This could mean another hit to the bond market as it backs the case for the Federal Reserve to slow the pace of bond buying.
Have a Wonderful weekend!!
Another day, another re-price as the market continued to sell off. Economic indicators have taken on a new significance since Bernanke claimed QE tapering would depend on these weekly reports. This data dependent monetary policy could add even more volatility to the market. Economists forecast durable goods orders increased after falling the most in seven months in March. This could mean another hit to the bond market as it backs the case for the Federal Reserve to slow the pace of bond buying.
Have a Wonderful weekend!!
Thursday, May 23, 2013
BREAKING NEWS:
Yesterday was absolutely brutal for the Mortgage Bond Market as the Fed confirmed the rumors that QE will end. Bernanke claims he could begin tapering bond purchases as early as July, causing the market to fall with a somewhat reckless abandon. Mortgage rates increased to their highest levels since May of 2012. The headlines ignored the news that China’s manufacturing industry unexpectedly contracted; adding concern the global recovery is still fragile. What the market will do today is anyone’s guess. Today Jobless Claims are due at 8:30 and New Home Sales at 10.
Yesterday was absolutely brutal for the Mortgage Bond Market as the Fed confirmed the rumors that QE will end. Bernanke claims he could begin tapering bond purchases as early as July, causing the market to fall with a somewhat reckless abandon. Mortgage rates increased to their highest levels since May of 2012. The headlines ignored the news that China’s manufacturing industry unexpectedly contracted; adding concern the global recovery is still fragile. What the market will do today is anyone’s guess. Today Jobless Claims are due at 8:30 and New Home Sales at 10.
Wednesday, May 22, 2013
JUNE 11th 2013 First Event of the Year
I would like to invite WYLL Listeners who have questions about their Mortgage or the Mortgage Process to attend.
We will Discuss the following TOPICS:
We will Discuss the following TOPICS:
- Mortgage Refinance Options
- HARP aka The Obama Refinance Program
- Short Sales
- Foreclosure
- Deed in Lieu
- Strategic Default
This Event is being held on June 11th 2013 from 7pm-8pm at:
Resurrection Anglican Church
100 Wycliffe Rd
West Chicago IL 60185
A Special Thanks goes out to
Rev. Dr. George Koch
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