December 2010

Rates Up Before Christmas: Stat Roundup & Trading Reaction

30-year fixed mortgage rates head into Christmas at about 5% for a single family home loan up to $417,000, and about .25% higher for larger loans and most condo loans. Bond markets close at 2:00 ET today and reopen Monday. While today’s inflation report was flat, mortgage bonds sold off and pushed rates higher on

Economic Growth Or ‘Shrinkage’ Since 2006 (CHART)

Economic growth predictions are getting more positive for 2011 and the very rough consensus is around 3% GDP growth. Yesterday’s 3Q2010 final GDP reading (third of three readings) showed the economy grew at 2.6%. The first of three 4Q2010 GDP readings will be released January 28, and below is a chart showing all quarterly GDP

Fannie Mae’s 2011 Housing Predictions. Six Banks Repay TARP To Taxpayers

Economist vs. Market Participant Outlook Economists make their living off of forecasting the future or explaining why their earlier predictions were incorrect. But by then, many have forgotten the earlier prediction. Rarely do traders base decisions on what an economist will say but in the mortgage banking arena, predictions by the MBA, Freddie, and Fannie

Julian Assange On Mark Zuckerberg As Time ‘Person Of The Year’

“I [Julian Assange] give you private information on corporations for free and I’m a villain. Mark [Zuckerberg] gives your information to corporations for money and he’s man of the year.” This is a cringingly accurate portrayal of Assange by Saturday Night Live’s Bill Hader (video below). Unlike The Daily Show, SNL goes for pure jokes