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MBS RECAP: Bonds Think it Over After NFP, Then Finally Decide to Rally
Posted on Friday December 07, 2018

Posted To: MBS Commentary

This morning's trading--both before and after NFP came out--basically acted as additional time for debate . Both MBS and Treasuries bounced quickly, but symmetrically around yesterday's closing levels before finally choosing a direction. Actually, the direction may have been chosen for them to some extent, as it was the stock market that made the first move. To bonds' credit, they didn't lose their cool in the first hour and a half of trading as stocks moved higher. Once it became clear that equities were heading down and out, bonds finally followed. 10yr yields hit their lowest closing levels since late August. MBS haven't bounced back quite as much relative to late-summertime levels, but they're getting close. NFP itself didn't seem to matter much, although I suspect...(read more)

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Mortgage Rates Lowest Since September After Jobs Report
Posted on Friday December 07, 2018

Posted To: Mortgage Rate Watch

Mortgage rates held on to their recent improvements today after the important Employment Situation (the big "jobs report") showed November job creation was lower than expected. In general, weaker job creation is good for interest rates because it speaks to slower economic growth and inflation (both of which are enemies of rates). This report was particularly important because a strong result would have cast doubt on several speeches from members of the Federal Reserve. Those speeches have warned about slower economic growth in 2019 and the potential for fewer rate hikes than previously anticipated. There were no clear winners or losers at first--probably because job creation is still historically solid. Additionally, the unemployment rate remained ultra low, and wage growth remained above 3...(read more)

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MIT Researcher: Why Financial Advisors May Become ‘Longevity Advisors’
Posted on Thursday December 06, 2018

The director of the Massachusetts Institute of Technology (MIT) AgeLab sees that the future for the financial advising profession may lie in taking on a new role for “longevity advisors,” according to a new white paper he published at Hartford Funds. The paper, titled “The Future of Advice” and written by Dr. Joseph F. Coughlin, […]

Senate Confirms Kathleen Kraninger as CFPB Director
Posted on Thursday December 06, 2018

The United States Senate voted along narrow party lines on Thursday to confirm Kathleen L. Kraninger as the new full-time director of the Consumer Financial Protection Bureau (CFPB) for a term of five years. After a vote of 50-49, Kraninger will become the first full-time director the agency has had since the resignation of inaugural […]