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Friday, May 27, 2005

Friday AM

All is quiet in front of a long weekend. The market will close at 2 PM EDT today. Bonds are at +1/32 and our market is flat. Personal Income was up at +.7 % and spending was even at +.6 %. There is a great deal of concern about oil prices so keep your eye on them. They will effect our market and rates very easily. Michigan survey just came in up at 86.9. That will give us a slight push for the better on rates. Enjoy your long weekend and lock your loans to be covered over the weekend.

Thursday, May 26, 2005

Thursday PM

Bonds are Flat and our market is flat. Take a nice nap this afternoon and enjoy the day!

Wednesday, May 25, 2005

Wednesday AM

Durable Goods came in up +1.9% BUT when you take out transportation orders ( military & civilian aircraft orders ) it was DOWN -.2%. New Home Sales were up at 1316K. These numbers wash each other out. Our market is flat and bonds are +3/32.

Tuesday, May 24, 2005

Tuesday Quiet

Housing starts came in up at 7.18 M and our market is better by .10 basis points. Fed minutes come out at 2 PM EDT. so be careful. We hope they do not say too much.
Durable Goods ( expected up) and New home Sales (expected down) Wednesday could move us.

Monday, May 23, 2005

Monday Late AM

Bonds are now at +21/32 and our market is better by .15-.20 basis points. No news today to move us and the indicators this week are expected to show some recovery in our economy. Does some one know something that we don't see? There is some flight to bonds because of the stock market uncertainty but our rates should be moving up rather than down. Be cautious and stay locked into these rallies.

Friday, May 20, 2005

Friday AM

Bonds are at -4/32 and our market is flat. No news today to speak of. It should be a quiet day. We will have a lot of indicators next week to give us enough trouble. Enjoy the weekend.

Thursday, May 19, 2005

Thursday AM Mix

Intial claims were down(321K) but leading indicators were also down again (-.2). It appears to be a wash. Bonds are at -3/32 and our market is FLAT. If the economy is falling off we better hope it does not kill the housing market. The housing market is the glue that is holding our market together. It will cool off but how much? Rates in the 7 % range are not unreasonable and could easily happen in a short period of time. We have seen the bottom of rates but many of you have never seen the top side. It can hurt!

Wednesday, May 18, 2005

Wednesday AM Surprise

Core CPI came in lower at .0 and the CPI came in at +.5 . This caused a rally in bond(+24/32) and stocks ( +50 but falling back). Our market is BETTER by .25 . Ride the wave and lock the rallies. They can be sweet & SHORT! Enjoy the day.

Tuesday, May 17, 2005

Tuesday AM

Core PPI was up at +.3 (inflation) and housing starts and permits were way up. Ind Production was down -.2. The stock market is down and bonds are at +8/32. Our market is better by 5 basis points but we expect some movement today so stay tuned for later news.

Monday, May 16, 2005

Monday AM

Bonds are at +4/32 and our market is flat. Tuesday is PPI, Housing starts, Building permits & more. They are expected to show improvement in the economy which could hurt us But what will they really come out at? Stay out of the line of fire and stay tuned.

Friday, May 13, 2005

Friday AM Pop

Michigan survey came in lower at 73.7 showing consumers are not happy with the economy. Bonds are now at the high of +17/32 and our market is improved by .10 basis points. That's it for the news today. Enjoy this weeks small rally and lock the loans on these highs. Have a great weekend.

Thursday, May 12, 2005

Thursday AM Mix

Retail Sales were up 1.4 % but initial Claims were also up 340K. More spending but also more people out of work. Hmmm. Our market is FLAT. Bonds are -5/32. Be alert for changes one direction or another. We will keep you informed.

Wednesday, May 11, 2005

Wednesday AM Surprise

Trade Balance Came in LOWER at -55 billion. This should rally our market. The dollar has gained ground so hang on and see what happens this AM. Bonds are +11/32 and our market is Flat BUT should improve. We will keep you informed.

Tuesday, May 10, 2005

Tuesday Quiet

Bonds are +9/32 and our market is better by 5 basis points. No News today but oil is back up above $52. That brings pressure on the market. We will keep you informed on any changes.

Monday, May 09, 2005

Monday AM

Bonds are at +1/32 and our market is flat. Not much in the way if indicators this week to move the market. Sometimes that is the most dangerous week! Trade balance and budget Wednesday and retail sales and claims Thursday might move us. Rates are working their way up slowly but surely. Stay Tuned.

Friday, May 06, 2005

Friday AM Bomb

Nonfarm Payroll came in higher at 274K. Unemployment unchanged at 5.2%. Bonds are now at -1 02/32 and our market has lost about .40 basis points. Rates have to go up. Our housing market has been extremely strong for such a long time. It has to cool off. The prime is now 6%. How can our rates stay at 5.625%? Be careful and stay locked ahead of the upward movement in rates. Enjoy your weekend and lets see some locks!

Thursday, May 05, 2005

Thursday AM

Initial Claims were up to 333K. Bonds are at -5/32 and our market has improved by about 5 basis points. Fridays Key indicators will move our market with Unemployment Rate and Nonfarm Payrolls which should be up. This will help balance out the Feds rate hike. Stay Tuned.

Wednesday, May 04, 2005

Wednesday PM

Bonds are at -13/32 but our market is flat. There was no reaction to the Feds raising rates again. Fed Funds are now 3% and the Prime is 6 %. Our rates are still 5.625-5.75%. Something has to give sooner or later. Watch out for Thursday and Friday indicators.

Tuesday, May 03, 2005

Tuesday AM

Feds meet at 2 PM and will announce their rate Increase today. Rates are going up and our market has to start to reflect that shortly. The spread between Fed Funds and interest rates is too narrow. Be careful and stay locked. Factory Orders came in at .1. All the indicators are Thursday ( initial Claims) and Friday (Nonfarm Payrolls & Unemployment rate) this week and are all expected to be higher.

Monday, May 02, 2005

Monday AM News

Construction Spending came out at +.5 (Ho-Hum). Tuesday the Feds raise rates another .25. Or so they say! Its pretty well assumed. But what will they say. We feel it is better to lock before the potently problem than to wait and see. We will keep you informed.


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