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Thursday, June 30, 2005

Thursday PM

Feds raise rates to 3.25 and bonds are now at +19/32 and our market is better by 20 basis points (at least for now). It is pretty much a sigh of relief. Enjoy the day

Thursday AM

Bonds are +7/32 and our market is flat. Intial Claims came in at 310K (down). Personal Income And Spending were both down (+.2 & 0). But our market is waiting for the FED Announcement at 2:15 PM EDT. Stay tuned and stay out of the line of fire . We suggest locking in early!

Wednesday, June 29, 2005

Wednesday AM

Revised GDP came out at 3.8% (up) and our market has improved .125 which washed out yesterday loss so our rates should be close to Tuesday AM pricing. Bonds are at +14/32. Thursday will bring Personal Income & Spending (both expected down along with Chicago PMI. Also At 2:15 PM EDT Thursday the Feds announce policy changes. We expect another 1/4% hike in rates. As of now we have not been affected by the Feds but sooner or later we will move our rates up and that time is getting closer each time the Feds raise their rates. Stay locked and stay happy.

Tuesday, June 28, 2005

Tuesday PM

Bonds are now -25/32 and our market is now off almost 1/4. We are right on the edge of a rate change so be careful!

Tuesday AM

Consumer Confidence came out at 105.8 which was much higher . Bonds are now at -16/32 and our market is off 10 basis points. Its a wash on Mondays gain but could continue to drift down. We suggest you lock in early today. Oil also backed off this morning. All of this should boost the stock market and make our rates higher but we shall see! Enjoy the day. We will keep you informed.

Monday, June 27, 2005

Monday PM

All was quiet this Am but bonds are now +11/32 and our market is 10 basis points better than this AM. Oil prices are now at $60.65. Stocks are off 25 points. Tuesday is Consumer Confidence expected higher. That's a joke. Lots of other news later in the week but oil is the BIG news right now. It moves the economy and our dollar.

Friday, June 24, 2005

Friday AM

Durable Orders came out at +5.5% BUT if you take out aircraft orders it was DOWN -.2. Not good for the economy. New Home Sales came out at 1298K which was the second highest ever but the median price dipped 6.5 %. Is there a cooling off of housing? We say YES & when rates go up it will be like cold bucket of water poured over a red hot fire! In the mean time enjoy the ride and lock those loans in! Be careful today. Bonds are at +13/32 but our market is now FLAT. We could have a wild ride today. Oil also went back over $60 . Lock early and stay happy. Remember our motto:"Lock as you go & count the cash flow"

Wednesday, June 22, 2005

Wednesday AM

Bonds are now at +23/32 and our market is better by 20 basis points. Thursday brings initial claims (expected down) and home sales (expected up ). Friday brings Durable Orders (expected up ) along with new Home Sales (expected up ). We will have market movement with these numbers. Good home sales numbers will help us but can we go much lower? We think not. We suggest you continue to lock these lows and bring in more loans .

Monday, June 20, 2005

Monday Blues

The Market opened down slightly, and has stayed that way. Bonds are -14/32's. Leading Indicators for May were slightly worse than expected at -0.5%. Thursday could be interesting with Initial Claims and Existing Home Sales Indicators. Remember: Lock as you go, and count the cash flow!

Thursday, June 16, 2005

Thursday AM Mix

Initial Claims were up to 333K but Housing Starts were also up to 2009K. HMMMMM. That must mean more people without jobs are buying houses!!! Don't we love 100 LTV Interest only loans. The market is having a very rough time this week making up its mind as to which direction to go. Bonds are at -1/32 and our market is Flat. Stay tuned and be careful for problems later in the day.

Wednesday, June 15, 2005

Wednesday AM

CPI came out at -.1 (down) and Industrial Production was up +.4. Both numbers should and will cause our rates to drift higher today so be careful and watch for possible rate changes later in the day. Always remember Good news is bad news for us. Our motto is "Lock as you go and count the cash flow" Enjoy the day. The Beige book will be out at 2 PM EDT and will probably also hurt us as the Feds want the economy to look good. Thursday will bring Housing starts (expected up) & building permits along with Phil. Fed Survey.

Tuesday, June 14, 2005

Tuesday AM

Bonds are now -12/32 after being on the plus side earlier. Our market is flat. Retail Sales were way down at -.5 % instead of being up as expected but PPI was also down -.6 % which sort of made it a wash. Our economy is drifting sideways with our housing market holding everything together. We expect rates to drift off and possibly get worse this afternoon so be careful.
Enjoy the day

Monday, June 13, 2005

Monday AM

Once again a very quiet day No news today but our market is off .20 basis points. Tuesday will bring retail sales (expected up) & PPI (expected down) which should hurt our market. That is all the news for the week so watch for developments in world news or stocks and oil prices. The dollar has gained strength against the Euro and that has helped interest rates to stay down. Be very careful and do not get caught sleeping. We just hope rates do not go up in big jumps, BUT they are going up .

Thursday, June 09, 2005

Thursday AM

Initial Claims came in lower at 330K. Greenspan said the Feds have more room to raise rates. Bonds are -11/32 and our market is off .125. As we said in our earlier post this week has very little to offer unless some international news or event moves us. Enjoy the quiet time.
We will have plenty of tidal waves ahead of us with higher rates.

Wednesday, June 08, 2005

Wednesday AM

All is quiet this morning. Bonds are -4/32 and our market is flat. As we said monday there is not a lot of news this week so what for international events along with oil & stock prices. It gives us a little breather this week.

Monday, June 06, 2005

Monday AM

Bonds are +2/32 and our market is flat this AM. Our market is dead this morning. Initial Claims coming out on Thursday. There is not much news this week so watch for other news such as oil prices and the stock market. Remember our rates are going up. Do not get fooled into thinking rates are going to stay low forever.

Friday, June 03, 2005

Friday AM Bomb

Our market opened strong but now is off -.15. Bonds are now -10/32 from a high of +30/32. LOCK NOW BEFORE THE RATE CHANGES. Nonfarm Payrolls were weak at +78K which helped us earlier but the trend is down now. Oil is above $54 and Stocks are down also. Unemployment was down to 5.1 but it appears we have a weal economy. That should help keep rates down but they are too low now. Enjoy the weekend

Thursday, June 02, 2005

Thursday AM Mix

All is quiet this morning. Bonds are at +5/32 and our market is off about -10 basis pionts. Factory orders came in higher at +.9% but initial Claims came in higher also at 350K. It makes it a wash.All eyes are on Friday for Unemployment Rates and Nonfarm Payrolls. The payroll number is expected to be lower which would not bode well for the economy but may help our rates. Remember bad news is usually good news for us. Enjoy the day.

Wednesday, June 01, 2005

Wednesday PM Surprise

Bonds are now +28/32 and our market has improved about .25 basis points . All of this is because Construction Spending was up +.5%! Even the stock market is up over 100 points. This is sheer madness. Be careful and don't get caught sleeping. Lock these highs in while you can. Enjoy the day.


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