Mortgage bond prices stabilize and trade sideways

Mortgage bond prices stabilize and trade sideways but with debt resolution still up the air, the volatility will remain and prices will trade sideways. MARKET WRAP: Bond markets stabilized today and pushed higher despite better than expected news from initial claims, pending home sales and not-so-good results from the $29B 7-yr note auction. Whispers ofContinue reading “Mortgage bond prices stabilize and trade sideways”

FDIC’s Bair suggests time right for rate hikes.

Outgoing Federal Deposit Insurance Corp. Chairman Sheila Bair on Friday said it may be time to think about implementing a slow increase in interest rates to make bank lending more profitable. Bair’s comments come as some bankers have been criticizing the Federal Reserve’s zero interest rate policy, insisting that it is hurting bank profitability andContinue reading “FDIC’s Bair suggests time right for rate hikes.”

Distressed Sales Put Pressure on Prices

The national median existing single-family home price was $158,700 in the first quarter, down 4.6 percent from $166,400 in the first quarter of 2010. The median is where half sold for more and half sold for less. Distressed homes typically sold at a discount of about 20 percent, accounted for 39 percent of first quarterContinue reading “Distressed Sales Put Pressure on Prices”

Retail Jobs Picking Up

Employment in April was up across the band of specific jobs; retail jobs increased 57,100 the largest increase since April of 2000; manufacturing +29K, goods producing +44K, service-providing +224K, government jobs down 24K. Those unemployed fro more than 27 weeks declined to 5.839 mil frm 6.122 mil in March. The U-6 unemployment rate at 15.9%;Continue reading “Retail Jobs Picking Up”

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