5:19pm November 21st, 2008Mortage Rates November 21, 2008

When E. F. Hutton speaks, wait I mean when Obama speaks the Street listens.
Once TIm Geithner was anounced by Obama to head up the  Treasruy, the market rallied.
Tresauies took a hit but MBS stayed strong, notice the long tail represents heavy selling early in the day. There was actualy a repice for the worse at 11 a.m. MST. A few lender released a price improvement late in the day. O...

10:51am November 21st, 2008Inflation’s Counterpart Deflation Is It Real

CPI OCT 2008
Image courtesy: The Wall Street Journal After supposedly being eliminated as a concern 5 years ago, Inflation’s counterpart Deflation is ominously present. The Fed has cut the Fed Funds Rate to promote economic growth and those changes can take up to 12 months to work their way through the economy. Deflationary pressures we’re seeing today, in other words, may ...

5:20pm November 20th, 2008Mortgae Rates November 20, 2008

I may have spoken too soon! Yesterday I stated we normally see the Flight to Security in sell offs such as yesterdays. Today the Flight took off.  We are now witnessing historic yields never seen on U.S. Treasuries.
The Two-Year has never dropped below 1%; today it did! In uncertain times investors will invest their funds in investments that will yield returns, without huge risks.  This is...