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Tim Erwin
Cal DRE#: 01257385
Mortgage 831 - 831-426-1642
BCE and Associates - 
5521 Scotts Valley Drive - Suite 110

Scotts Valley, CA 95066
Tim Direct: 831-588-7201

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Mortgage News Daily

MBS RECAP: March Continues Delivering on "Big Move" Promise

Posted To: MBS Commentary

There were no significant economic reports today and no obvious market-moving news headlines. Nevertheless, bonds went on yet another snowball rally run to new long-term lows. Today's version was even more interesting than some of last week's examples. Case in point, 2yr yields ended the day down nearly 7bps while 30yr bonds barely gained any ground. What's up with that?! Part of the reason is the extent to which the opposite phenomenon was in fashion heading into the end of last week. Traders are booking profits on those curve flattener trades (betting on longer term yields falling to be closer to short-term yields). Profits on those trades could either be booked by selling longer-term bonds or buying short-term bonds. None of this is really important though! The fact is that rates...(read more)

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Mortgage Rates Still Moving Lower After Last Week's Stellar Drop

Posted To: Mortgage Rate Watch

Mortgage rates continued deeper into long-term lows today as the underlying bond market experiences its most impressive rally of the year. In a rally, bond prices are moving higher and rates are moving lower. This particular rally is bifurcated on several levels. On one level, different maturities of US Treasuries are moving at very different paces . For instance, the 2yr Treasury dropped by .07% today while the 30yr Treasury fell by less than 0.01%. This has to do with investors betting on central banks keeping short-term interest rates low (or cutting them to even lower levels) among other things. On another level, US Treasuries are moving at a very different pace compared to the bonds that underlie mortgages (mortgage-backed-securities or MBS). Part of last week's big news from the Fed spoke...(read more)

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MBS Week Ahead: Slow Data Week Apart From Housing; Bonds Hoping to Confirm

Posted To: MBS Commentary

From a calendar standpoint, the most notable thing about the week ahead is that it's the final week of the month/quarter. This usually means we'll see at least some trading happening for reasons that have nothing to do with data, events and headlines ( read more about "month-end" trading ). Thursday and Friday have the biggest potential for volatility in that regard. There will actually be plenty of economic data to digest. It's just that most of it has to do with the housing market , and typically doesn't pack the same sort of punch as the reports that moved markets last week. Incidentally, the exceptions also show up on Thursday and Friday (GDP, PCE inflation, Consumer Sentiment). From a technical standpoint, bonds are in the process of deciding if they have any...(read more)

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Tim Erwin | 831-588-7201 | Contact Us
5521 Scotts Valley Drive, Suite 110 - Scotts Valley, CA 95066
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