Mortgage Backed Securities (MBSs) continues their volatile trading trading today after spiking up 11/32 at the opening bell. The 30-Year FNMA 4.5% coupon is currently trending downward and is now trading below the yesterday's close. Mortgage rates may get worse in price before the close of busine
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01/30/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Lock if my closing was taking place within 7 days Float if my closing was taking place within 8 and 30 days Float if my closing was taking place between 31 and 60 days Float if my closing was taking place ove
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01/30/2009
Prices of stocks, bonds and Mortgage Backed Securities (MBSs) are lower this morning after the House passed the $819 billion "stimulus bill" late yesterday. A bill to allow judges to "cram down" mortgage debt in bankruptcy proceedings also passed a House committee yesterday. The 30-Year FNMA 4.5%
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01/29/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Lock if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ove
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01/29/2009
Prices of Mortgage Backed Securities (MBSs) opened up in this morning trading, but reversed course by late morning and headed down. The FNMA 30 Year Mortgage Backed Securities February 4.5 coupon is currently down 14/32. Remember, on MBS, as the price goes up, the yield goes down - and mortgage i
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01/28/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Lock if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ove
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01/28/2009
Prices of Mortgage Backed Securities (MBSs) opened at the same level as yesterday's close. MBS moved into positive territory this afternoon after Republicans had a meeting with President Obama. The Feds begin their two-day Federal Open Market Committee (FOMC) meeting today to determine what steps
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01/27/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Lock if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ove
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01/27/2009
Prices of Mortgage Backed Securities (MBSs) dropped a bit this morning as supply concerns weighed on fixed income securities. The FNMA 30-Year 4.5% coupon was down 4/32 as the Feds prepare to sell $78 billion in notes this week. MBS is currently down just 2/32 for the day. All in all, a fairly qu
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01/26/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Lock if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ove
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01/26/2009
