The
30yr/15yr mortgage rates just spiked, almost 5% for the 30yr now.
Does anybody have any idea what is going on? Seems weird it would
spike suddenly like this. Anybody watch the 10yr/30yr treasury
yields?
This is tied to Taper and the fact the Federal
Reserve isn’t going to be buying every trash piece of MBS the banks
can throw together anymore…
Banks are beginning to realize once the Fed is
out, there is no secondary market for Mortgage Backed Securities…
Especially when they are discounted in your
risk based capital as a tier II or tier III asset.
Fed’s
Plosser – Worried About Risks Of Exit
“I think our balance sheet is very large,”
Philadelphia Federal Reserve Bank President Charles Plosser told CNBC
on Tuesday. “I am worried about the exit & sort of what the
unintended consequences may be.”
Case
Shiller Home Price Index Declines For Third Month A Row: Longest
Negative Stretch Since March 2012
Another month, another sequential drop in the
Case Shiller NSA index – the one the index creators themselves say
should be used, not the Seasonally Adjusted data used by most
commentators eager to find the best data. At a sequential decline of
-0.08% in January, this was the third drop in a row – the longest
consecutive period of sequential declines since March 2012 –
and post a year over year increase of 13.24%, down from 13.38% in
December, and the lowest since September 2013. Clearly, the pricing
gains across the country are slowing.
ALBERT EDWARDS: The Next Shock Will Be Enough
To Send The Economy Into Recession
Read
more: http://www.businessinsider.com/albert-edwards-warns-of-declining-profit-growth-2014-3#ixzz2wzKHXPjK
Out of Gas: Most Americans Can’t Afford New
Cars
HUGE
DISAPPOINTMENT FROM THE RICHMOND FED
“Shipments and the volume of new orders
declined,” reported the Richmond Fed. “Manufacturing employment
remained flat, while the average workweek edged up and wages rose
moderately.”
Richmond Fed
Saddletramp
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