Archive for March, 2010
MBS Close at Lowest Prices Of The Day Despite Treasury Rally
Posted by: | CommentsPosted To: MBS Commentary
Fed says "so long, MBS!" For primarily this, and other reasons, MBS are pouting today Lenders scatter reprices for the worse throughout the day OUR WARNING "pouting" = cutting edge technical term for being in the red while treasuries are in the Green 4.5's are down 2 ticks on the day at 100-06 10yr Treasury Note Yield about 2.5bps lower to 3.835 Stocks tried 1174 again in S&P and failed (again... we're losing count...) I discussed a few technical levels last night. Specifically, that 100-16, 100-10, and 100-07 were good levels to keep an eye on. That call turned out pretty good today as those have been our noticeable turning points throughout the day. If you got some improved rates this AM, the 100-16 was a good lock signal for those locking before NFP. And then...(read more)Mortgage Rates Improve on ADP Data. Lose Gains as Fed Exits MBS Market
Posted by: | CommentsPosted To: Mortgage Rate Watch
Early morning weakness in the bond market yesterday forced lenders to move mortgage rates slightly higher at the open. Several lenders did decide to delay the release of their rate sheets until interest rate volatility died down. Treasury yields and MBS prices then began to recover from their weakest levels which allowed lenders who released pricing early in the day to reprice for the better. Overall, mortgage rates were a few basis points higher yesterday. The economic data calendar was busy today.... First up was the Mortgage Bankers Association’s Weekly Mortgage Applications Index. The MBA survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for...(read more)Wells Fargo (NYSE: WFC) Wins “Most Innovative” Award For Business Advice Library
Posted by: | CommentsWells Fargo (NYSE: WFC) announced Wednesday it has received the Monarch Innovation Award for “Most Innovative Feature.” The bank received the award for its Business Online Advice Library that provides educational resources for business owners, offering advice on key business issues.
“The Business Insight Series videos and webcasts address many of the fundamental issues facing business owners,” said Rob Ruffin, Wells Fargo marketing manager. “Entrepreneurs are time-starved and are looking for ways to enhance their businesses. These online educational videos provide a quick and easy way for business owners to access reliable information from industry experts and other business owners.”
The online library offers business owners advice on a wide range of topics, including financing, taxes and accounting, marketing, retirement and general management. The site also has an interactive angle, including panel discussions and insights from business owners and industry experts.
In particular, it was Wells Fargo’s Foreign Exchange Online for Small Businesses that helped it win the award. The product is available to businesses through their Well Fargo Online/E-banking session, providing a seamless environment.
“We are honored to be recognized with this award” said David Pope, Wells Fargo Small Business Segment Manager. “As America’s number one small business lender, we are committed to providing educational resources and services that help businesses succeed financially.”
The Monarch Award recognizes financial services sector for creating innovative products for business customers. The award was created by Barlow Research Associates Inc, which was founded in 1980.
This article (Wells Fargo (NYSE: WFC) Wins “Most Innovative” Award For Business Advice Library) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.