Disqus - Latest Comments for FloridaCMPS

Re: Mortgage Market Update

FloridaCMPS — Mon, 04 Jan 2010 08:57:12 -0000

Roy,

Thanks again for your questions. I will also answer that question in this week's post which I am about to do, but I also wanted to answer it here.

I expect MBS prices to retrace to about the 100.50 level (50% of their entire move), which should put mortgage rates back to about where they closed on 12/21/2009. The next day they opened a little higher, so it depends on when your lender did their pricing those days.

Hope that helps and let's make 2010 a prosperous one for all!!!

Re: Mortgage Market Update

FloridaCMPS — Mon, 21 Dec 2009 10:25:19 -0000

I am getting ready to write this week's update, so expect it in a little while, but I wanted to address the comments added.

Once again, I appreciate all of the feedback.

@Drooka - Hopefully you saw what I was talking about as the week played out. We did see a move higher in MBS prices, to about the 50% retracement level, which I like to see, then another move lower, piercing the 50-day MA.

@Paul - You are right. If one look sonly at the daily moves, there is a lot of stress. Just look at how many times MMG has put out a daily update, then turned around and had to do a re-price alert, sometimes within a half hour. I always look at the daily for signs of trend change, but watch and analyze the trends and not focus strictly on the daily.

Re: Mortgage Market Update

FloridaCMPS — Mon, 14 Dec 2009 09:31:12 -0000

Thank you all for the kind words on my son. He thanks you as well. They ended up using a cast to ensure his finger stays in place, but he should be healed in three weeks, just after the new year begins and he is doing fine.

It is also good to hear the feedback as I have said in the past, so please keep commenting and I will try to visit the site more often, time permitting, and hopefully provide quicker responses, especially to specific questions.

Re: Mortgage Market Update

FloridaCMPS — Mon, 07 Dec 2009 09:52:13 -0000

Thanks Roy for your compliments and feedback. I do not know if my prior comments have been posted as I was using a different website and email, but your feedback has been nice to read and your questions are certainly worthwhile. I will try to answer them in a more timely matter going forward.

Re: Mortgage Market Update

FloridaCMPS — Thu, 01 Oct 2009 09:31:44 -0000

Thanks Robert W. Mortgage backed securities are now doing what I thought they might, heading higher and sending mortgage rates lower at the moment.

On a side note, FOX Business News threw me a curve ball on my interview and did not hit on that article at all, rather on FHA (I think they confused HFA with FHA). Anyhow, if you want to see it, I have a post about my experience over at Florida Mortgage Report.

Re: Mortgage Market Update

FloridaCMPS — Mon, 21 Sep 2009 10:01:39 -0000

It was nice finally meeting you face to face as well, Tony.

Re: Mortgage Market Update

FloridaCMPS — Mon, 27 Jul 2009 17:12:07 -0000

A quick update to the schedule above...Ben Bernanke is now scheduled to speak Monday, Tuesday and Wednesday on PBS's News Hour with Jim Lehrer. Check your local listings for times, but should be around 6pm.

@Dave - Traders are grabbing hold and running with just "breadcrumbs" of data. Data is showing improvements, but the data lacks real evidence that the economy is indeed improving, rather traders are merely acting as though "less bad" is good news.

Take Jobless Claims for instance...Continuing claims dropped, which is good news, but how much of that was just from claims reaching their expiration versus people actually getting jobs? My bet is that most, if not all, are from expiring. MBS pricing is moving off headlines of the here and now and not trends, and typically not of what the full view of the economy is. New Home Sales are up, Existing Home Sales are up, and inventories are dropping so there is talk of the housing bottom...AGAIN. But is it really or is it just "fluff"?

I hope that gives you a better idea of what I am trying to say as I finished the update. If not, feel free to let me know.