I’m on a roll! Last week I predicted the 10-Day Moving Average would continue to provide support - and it has! Mortgage rates have to continue to improve.
Let’s look at the week that just passed first - then look ahead to the coming week to see what we can expect moving forward. Read the rest of this entry »
First off - I switched to the FNMA 30-year 5% Bond this week from the 5.5% bond due to current pricing. It’s more relevant for where the mortgage market is at.
Second - the trend line held all week - the 10-Day Moving Average continues to point higher - and mortgage bonds continue to move the same way (remember higher means lower rates).
At this point many homeowners are wondering if refinancing now makes sense Read the rest of this entry »
A new month, a new trend!
Last month many days were nail biters to see if the 200 day moving average would hold. This past week, the question was: will the 10-day moving average hold. The answer? Mostly yes!
Here are the details of what happened in the mortgage market last week- along with my predictions for the coming week. Read the rest of this entry »
Happy Thanksgiving this week! It’s taken me until Sunday night to post my mortgage market recap. Apparently I’ve been enjoying the long weekend at the expense of business!
Well, at this point the exciting week Read the rest of this entry »
Fannie Mae Mortgage Backed Securities rode the 10 day moving average on Monday back onto the 200 day moving average - which held for the balance of the week. Good news in that there was no new structural failure (the 200 day held).
But there’s a showdown on the way … Read the rest of this entry »
Look at the candlestick chart below of mortgage backed securities. And use your imagination … it’s a roof pitching down to the right. The peak of the roof is there in early September … the current week is the support on the right. Read the rest of this entry »
Monday was more of the same from last week, but boy did things turn around on Tuesday!
I’ve been tweeting about how lethargic mortgage bonds were - and how I expected the climb up the hill to take a lot longer than it had - and be much more difficult. I was thinking it would take a prolonged climb with checks of support along the way. I was wrong. Read the rest of this entry »
Just a quick note to let you know that best way to see what’s happening on a day-to-day (or even intra-day) basis in the mortgage market is to look at my twitter feed - or to follow me on twitter (www.twitter.com/ken_stone)
Thanks for reading!
I’ll post back soon,
Ken
The fizzle is gone - mortgage backed securities have fallen, and they’re not getting up. At least the floor they’ve fallen on hasn’t given way!
Here’s what happened this week: Read the rest of this entry »
First the mortgage market: What’s happening with mortgage rates - and where are they headed?
You can see from the candlestick chart (below) of mortgage backed securities, that mortgage bonds have fallen and they don’t seem to be able to get back up. Nor have they fallen further. I’m taking this as a good sign.
The Fed’s move yesterday Read the rest of this entry »
