New home sales were up 11% from February to March. WOW the recovery is finally here. What the headline does not tell you is February had the worst reading of new home starts in a few years. The 11% only brings us back to the flat number we had in January and is down 21.9% from last March's reading.. Here is a CNBC article: http://www.cnbc.com/id/42749735 The author seems to share my sentiment. "Don't get me wrong, I'm thrilled to see the sales numbers going in the right direction; I just questioning...

Mortgaged Backed Securities are Minus 3bps this morning.

I waited until this afternoon to write the commentary because there was nothing happening early in the bond markets. It is now noon Milwaukee time and MBS are basically flat. Volume seems to be decreasing as we get later in the day. Traders appear to be excited about the first official weekend of summer. Reports released today showed GDP was in line and durable goods orders were slightly higher than anticipated.

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Mortgage Backed Securities are Plus 31bps this morning. Making today a great day to lock your mortgage home loan.

The markets are reacting to the speech given by Fed Chairman Ben Bernanke. He said the Fed will end QE2 on schedule June 30th. He also revised down the GDP forecast for next year and admitted to slow steady growth. This started to hit the markets yesterday afternoon. It spilled over to pre market trading this morning with Dow futures down almost 100 point before weekly...

In the current Milwaukee mortgage market it is imperative that you present yourself in the best possible light. Most first time home buyers do not look at their credit until they are ready to purchase. Are they ready or is it to late?

The one certain fix for credit is time. A credit report is front end loaded. What have you done to me lately? 12 months of perfect credit is solution for most dings on a credit report. When you are purchasing a home in two months you just do not have...

Plenty of Noise
5/07/10 Mortgage Backed Securities are plus 9bp this morning. Volatility is the word of the day. The markets were getting routed and have since come back to unchanged. The reasons are listed below. Nothing has changed in the last two days. This will be a ride to remember. These swings offer great opportunities to lock. We are advising our clients to lock.

Instability in foreign currency has caused the markets to plummet the last few trading sessions. Now there...