For information on highlighted terms in the commentary, click here. Stocks are back in negative territory after weak economic news in unemployment and manufacturing. After this mornings jobless claims report jumped up, we now have close to 10 million unemployed workers in the country. Also, a regional report from the Philadelphia Fed showed that manufacturing [...]

For information on highlighted terms in the commentary, click here. Stocks are performing well to start this holiday shortened weekend and the Dow is up 130 points. MBS prices are not suffering at the moment, and even showing slight increase in price. Mortgage borrowing costs should remain close to all time lows. Markets are reacting [...]

Last week was another volatile round in the stock and bond markets. The Dow soared on Monday, ending a streak of down days. The streak, however, retuned and stocks suffered another series of losses. American CEO’s must be frustrated. Economic signs are showing a strong economic rebound underway in the US. Corporate earnings are meeting [...]

For information on highlighted terms in the commentary, click here. Mildly positive economic reports and strong corporate earnings pushed the Dow up yesterday and MBS hit an afternoon decline.   This morning, higher jobless claims caused stocks to open down, but they have climbed back to even.  MBS prices are up slightly.    With all of the comic [...]

For information on highlighted terms in the commentary, click here. Yesterday started off fast with MBS prices soaring and then falling. After the initial flurry, the day calmed down and MBS prices closed flat on the day and the Dow closed just above 11,000    Today starts a busy stretch of economic reports, including consumer confidence and [...]

For information on highlighted terms in the commentary, click here. It has already been a volatile morning with MBS prices starting off hot, but falling back to about even for the day.  The Dow opened above 11,000, but has since fallen below.    Typically MBS suffer when stocks benefit.  There is little economic data available, [...]

 For more information on any of the highlighted terms in the commentary, click here.As we were concerned about yesterday, the Treasury Auction was met with weak demand, dropping bond prices and pushing rates up.  After the auction results, MBS prices started to fall quickly and many investors issued intra-day pricing changes for the worse.  This [...]

I serve with Fletcher Wilcox, V.P. Business Development for Grand Canyon Title Agency, on the Arizona Mortgage Lenders Association State Board. He and I were discussing the new GFE and he brought up a very valid, interesting, and concerning point about using the new GFE to comparison shop. While, everyone agrees that shopping around will [...]

Mortgage Backed Securities, MBS, ended a calm week with a volatile Friday. The DJIA dropped slightly on Friday, but that did not help MBS prices as it normally does. This week we will be watching reactions. Reactions to the Healthcare debate over the weekend; the sale of another $100 billion in Treasury Bonds; economic data [...]

Marshall J. Vest is director of the Economic and Business Research Center (EBR) at the University of Arizona’s Eller College of Management. He addressed a joint luncheon of mortgage professionals from the Arizona Association of Mortgage Brokers and the Southern Arizona Mortgage Lenders. Mr. Vest showed great concern over the State’s inability to balance the [...]