In an unexpected turn of events, Ben Bernanke announced yesterday that he will not be tapering bond purchases this month as expected. The Fed stated job growth is not where they would like it to be as the reason for the decision.
Are you familiar with a Qualified Mortgage (QM) and the new rules surrounding QMs beginning in early 2014? If not, you’re in the right place. Quicken Loans team members Shawn Krause, Executive Vice President of Government Relations and Amy Bishop, Deputy Corporate Counsel took the time to explain the new rules. If you’re interested in finding out about QM and how the new rules may impact you, take a look at the discussion I had with Shawn and Amy.
Now that the National Football League (NFL) season is officially underway, fans have tough decisions to make. Between tickets, parking, concessions and anything else associated with going to a football game, it’s expensive. What is the true costs associated with attending a game for a family of four? Read ahead to find out!
Another month has passed and that means another FOMC announcement. Treasuries were down this morning amid speculation the Fed will announce a reduction in bond purchases.
The bond market rallied hard on news. Treasuries advanced for a fifth day, the longest winning streak in almost a year. Consumer Price Gains have decreased to 1.6% in 2013.
Today is the last big economic news day before the FOMC announcement next week. The Jobs report out yesterday reportedly left the FOMC divided on asset tapering plans.
Yesterday rates opened in line with Tuesday’s levels. The market got jitters around the 10-year Treasury auction, but rallied back to the stronger trading levels of the day after the auction.
A controversial finish in the regular season finale appeared to leave Ryan Newman as the odd man out of the Chase for the NASCAR Sprint Cup championship. However, after an investigation, NASCAR announced that Newman will replace Martin Truex Jr. in the 12-driver field. Check out the details!
Treasuries rose yesterday, snapping a three day decline, before reports today should show U.S. jobless claims increased by 7,000. Economists believe this will dampen the Fed’s plan to withdraw stimulus money.
Yesterday was a calm day for the bond market with no economic news released. Today is similarly void of economic announcements. However, market risk might be the driver of MBS prices today.