Where is the Fed?
2/5/2009 You will see in the article below I have been talking about the Fed buying Mortgage Backed Securities. They will release today the amount of MBS they purchased last week. Based on interest rates moving up, I would say not many.

The government never passes on spending our money. That means there is $450 Billion to be spent in 5 months. That is $90 billion per month or twice as much as they spent in January. Rates should remain low and push a little...

Total system failure.
2/4/2009 Sorry for no updates. I have had to replace my networking system. We are trying to catch up today. I will post again starting Thursday.

1/30/09 The Fed has bought the following mortgage notes in January. They bought 23 billion the 8th-14th, 19 billion 15-21st and 16.836 billion the 22nd-28th. The following is just Fannie Mae notes. The first purchase was 3.35 billion in 4% notes and $0 in 5.5% notes. The second purchase was 700 million in 4%...

Fed day two
1/28/09 The Fed will announce the results of their two day meeting today at 1:15 cst. We have wrote for a couple of days that we expect the Fed to talk about Mortgage Backed Securities. We have had a small rally in MBS the last 24 hours. We expect that to continue until the end of the week. This may not be a long lived rally. Remember lenders are at or close to capacity. This should be the dip we talked about.


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Forget you ever heard 4.5%
1/23/09 The 4.5% ship has sailed. The FED was supposed to use $500 billion to keep interest rates low. I guess the FED's definition of low and ours is different. The FED has spent $50 billion of the $500 billion since the programs inception at the beginning of the year. The FED had plenty of opportunity to step in and by Mortgage Backed Securities this week and they did not. That would lead me to believe that they are not trying to drive rates to the 4.5% like everyone...

Geithner Gaffe
1/22/09 Here is a quote from our Treasury Secretary:

Timothy Geithner, currently the president of the New York branch of the Federal Reserve said, "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency.
"President Obama has pledged as president to use aggressively all the diplomatic avenues open to him to seek change in China's currency practices," Geithner said in...