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September First - 09/01
Posted 09-01-2009 at 12:40 PM by dlenski
September First
9/1/09 Mortgage Backed Securities are -9bp this morning. September has historically been the worst month for stocks. Marketwatch has put together trading stratagies for Septembet that I have included at the bottom of the page. The ISM report was released and came in higher than expected. Pending home sales were also higher according to the National Association of Realtors. The key to this data is that it was because of government intervention that the numbers were higher. Cash for clunkers pulled people off the sidelines that were thinking of buying 3-6 months from now. That means sales will not be sustained. The same can be said for the $8000 first time buyers credit. When the consumer goes out and starts buying without incentives, then we will start the recovery.
Here is a list of high impact data being released: Monday Chicago PMI, Tuesday the ISM report, Wednesday FOMC minutes and ADP National employment report, Friday has 4 employment reports. Buckle up as this week will be a wild ride.
We hold to our belief that the 30 year fixed will be in the 4.875% to 5.375% range until at least Fall.
http://www.marketwatch.com/trading-strategies
www.mortgageserviceswi.com
9/1/09 Mortgage Backed Securities are -9bp this morning. September has historically been the worst month for stocks. Marketwatch has put together trading stratagies for Septembet that I have included at the bottom of the page. The ISM report was released and came in higher than expected. Pending home sales were also higher according to the National Association of Realtors. The key to this data is that it was because of government intervention that the numbers were higher. Cash for clunkers pulled people off the sidelines that were thinking of buying 3-6 months from now. That means sales will not be sustained. The same can be said for the $8000 first time buyers credit. When the consumer goes out and starts buying without incentives, then we will start the recovery.
Here is a list of high impact data being released: Monday Chicago PMI, Tuesday the ISM report, Wednesday FOMC minutes and ADP National employment report, Friday has 4 employment reports. Buckle up as this week will be a wild ride.
We hold to our belief that the 30 year fixed will be in the 4.875% to 5.375% range until at least Fall.
http://www.marketwatch.com/trading-strategies
www.mortgageserviceswi.com
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