Standing Pat
4/29/10 Mortgage Backed Securities are plus 6bp this morning. The FOMC released the minutes from their two day meeting and left their message unchanged. There has been no effect on interest rates. The markets are up today as unemployment was little changed. Looks like it will be another slow news cycle day. We will update if things change.

Here is a list of high impact news being released this week: There are four auctions this week. Consumer confidence will...

Join Mike Ditka Resorts this Mother’s Day as we ‘Walk to Empower’ during Chicago’s breast cancer walk. The walk will take place in Grant Park at Butler Field on May 9th, 2010. Check in for the walk is at 6:30 a.m. with a start time of 8:00 a.m. Participants can partake in either the 1 mile walk, 3 mile walk, or United 5K run.

This year will mark that 19th year that the Breast Cancer Network of Strength’s Walk to Empower has been promoting its mission to ensure that through information,...

Waiting on the Fed
4/28/10 Mortgage Backed Securities are plus 19bp this morning. Greece gets a larger aid package and the crisis is averted for now. The stock markets have rallied on the news. The markets will move sideways this morning. The FOMC will release a statement after their two day meeting concludes today at 1:15. The Fed has not changed the language of the release in quite some time. Their plans to sell MBS will be what we are watching. We will also get a look at the results of...

This morning we had beautiful blue and sunny skies when I woke up.

When I looked out the window to admire it, I saw jet planes way up high, spraying white stuff in an organized pattern above us and to the West and South. After a while, the white "clouds" spread out to form a hazy layer covering the sun. The sky was no longer blue.

I called the DNR, Aerial division. The guy first told me it was simple contrails, the normal exhaust that comes out of...

Good to the last dollar!

Rural Development funds were projected to run out before the end of April. Many large lenders across the country stopped processing these loans to avoid having the cash window shut in their face. Those who continued to apply for the (100%, no monthly MI, low 30 year fixed rate and a 2% financed funding fee) RD loan have been rewarded with the best possible loan in today’s mortgage market.

We will keep submitting...