Archive for October 20th, 2010

Mortgage Purchase Activity Remains Near Long-term Lows

Mortgage Purchase Activity Remains Near Long-term Lows

| October 20, 2010

The Mortgage Bankers Association reported that their Purchase Index decreased 6.7% last week, holding near the lowest levels since the mid 1990s as shown on the following graph from Calculated Risk. It remains to be seen how long this downtrend will persist as there are no meaningful signs of bottoming action at the moment.

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Securitization Market Strained by Foreclosure Problems

Securitization Market Strained by Foreclosure Problems

| October 20, 2010

In a recent interview with CNBC, fund manager David Ellison discussed the impact of the recent problems with foreclosure processing on the securitization market and suggested that a “dramatic” slowdown has resulted. CNBC: So have the wheels of the credit market come off the rails? David Ellison: What I’m hearing the bigger companies are looking [...]

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Stock Market Exhibits Early Signs of Distribution

Stock Market Exhibits Early Signs of Distribution

| October 20, 2010

The S&P 500 index returned to recent highs today and volume has finally picked up during the last 5 sessions, holding at above average levels since the middle of last week. However, the substantial increase in volume has not been accompanied by additional gains for the rally from early September. When volume increases but price [...]

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Short-term Forecast for October 20, 2010

Short-term Forecast for October 20, 2010

| October 20, 2010

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