{"id":5764,"date":"2008-11-21T21:58:27","date_gmt":"2008-11-22T04:58:27","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=5764"},"modified":"2008-11-21T21:58:27","modified_gmt":"2008-11-22T04:58:27","slug":"quick-summary-of-the-day","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5764\/quick-summary-of-the-day\/","title":{"rendered":"Quick Summary of the Day….."},"content":{"rendered":"

Okay, here’s a quick summary of the day:<\/p>\n

3 Banks got taken over by the FDIC.\u00a0\u00a0 The biggest one was Downey Federal, a huge “Option Arm” lender.<\/p>\n

While Citibank didn’t go under or get bought out, but their stock was 50% lower tonight than it was Monday morning.<\/p>\n

The stock market staged a late day rally but still ended up way down for the week.\u00a0\u00a0 Why did it go up this afternoon?\u00a0\u00a0 Because President Elect Obama announced that he was selecting Federal Reserve Governor Tim Geithner.\u00a0\u00a0 Why did they rally on the announcement?\u00a0\u00a0 Best I can say is because they liked the fact that an “insider” who has experience is going to be taking over.<\/p>\n

Pretty much the entire financial sector of the stock market got hammered this week.<\/p>\n

The disconnect between Treasuries and Mortgage Backed Securities has never been clearer than it is this week.<\/p>\n

Based on some of the people I’m reading, the way that yields on Treasuries have moved this week are indicative of huge amounts of fear and tension in the markets.<\/p>\n

The Big Three auto makers showed up in Washington begging for money, didn’t get any and left us all with a feeling that no matter whether they get it eventually or not, it’s going to be painful.<\/p>\n

After a very calm week last week, the volatility returned to mortgage rates.<\/p>\n

Have a good weekend!<\/p>\n

Tom Vanderwell<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Okay, here’s a quick summary of the day: 3 Banks got taken over by the FDIC.\u00a0\u00a0 The biggest one was Downey Federal, a huge “Option Arm” lender. While Citibank didn’t go under or get bought out, but their stock was 50% lower tonight than it was Monday morning. The stock market staged a late day […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[178],"class_list":{"0":"post-5764","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"tag-mortgage-rates","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":9918,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9918\/the-jobs-report-whats-it-going-to-mean-for-mortgage-rates\/","url_meta":{"origin":5764,"position":0},"title":"The Jobs Report – what’s it going to mean for mortgage rates?","author":"Tom Vanderwell","date":"October 1, 2009","format":false,"excerpt":"Okay, it\u2019s hard to believe but tomorrow morning is the first Friday of the month again.\u00a0\u00a0\u00a0 Where has the year gone?\u00a0\u00a0 In some ways it has flown by and in other ways it seems like it\u2019s been about two or three years.\u00a0\u00a0 Know what I mean? Any way, tomorrow morning\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9639,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9639\/jobs-report-did-i-call-it-wrong\/","url_meta":{"origin":5764,"position":1},"title":"Jobs Report – did I call it wrong?","author":"Tom Vanderwell","date":"September 4, 2009","format":false,"excerpt":"Okay, so far this morning, the market has reacted in a very volatile but not significantly changed manner to the jobs report.\u00a0\u00a0 Essentially the jobs report came in pretty much where the market expected.\u00a0\u00a0 So, did I call it wrong by recommending a shorter term lock and a long term\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4948,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4948\/why-the-bailouts-dont-work-and-why-wall-street-loves-them\/","url_meta":{"origin":5764,"position":2},"title":"Why the Bailouts Don’t Work and Why Wall Street Loves Them","author":"Sean Purcell","date":"October 14, 2008","format":false,"excerpt":"The stock market came back with a vengeance yesterday.\u00a0 On Friday's episode of BloodhoundBlog Radio we noted that the market was vastly oversold from a fundamental perspective and suggested a rebound after the weekend.\u00a0 This was prescient enough that the Mortgage Cicerone made note of it, which is high regard\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1810,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1810\/the-countrywide-federal-bailout-act-of-2008\/","url_meta":{"origin":5764,"position":3},"title":"The Countrywide Federal Bailout Act of 2008","author":"Brian Brady","date":"August 15, 2007","format":false,"excerpt":"Have you ever felt your stomach drop? I received an e-mail, from reader Robert Kerr today, asking if I had seen Merrill Lynch's downgrade of Countrywide Financial. Merrill Lynch believes that Countrywide might face bankruptcy. Make no mistake about it, a collapse of Countrywide Financial will give everybody in the\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4256,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4256\/excerpts-from-the-press-release-about-the-death-of-fannie-and-freddie\/","url_meta":{"origin":5764,"position":4},"title":"Excerpts from the Press Release about the Death of Fannie and Freddie…..","author":"Tom Vanderwell","date":"September 7, 2008","format":false,"excerpt":"Treasury Press Release I have clearly stated three critical objectives: providing stability to financial markets, supporting the availability of mortgage finance, and protecting taxpayers \u2013 both by minimizing the near term costs to the taxpayer and by setting policymakers on a course to resolve the systemic risk created by the\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2967,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2967\/a-bourse-is-a-bourse-and-zillow-mortgage-is-a-marketplace-and-never-the-twain-shall-meet\/","url_meta":{"origin":5764,"position":5},"title":"A Bourse is a Bourse and Zillow Mortgage is a Marketplace and Never the Twain Shall Meet","author":"Sean Purcell","date":"April 15, 2008","format":false,"excerpt":"Bourse is a funny word isn\u2019t it?\u00a0 What exactly does it mean and why do people keep referring to the Zillow Mortgage Marketplace as a Bourse? Bourse: \\\u02c8burs\\ Function: noun Etymology: Middle French, literally, purse, from Medieval Latin bursa \u2014 more at purse Date: 1597 1:\u00a0exchange 5a; specifically :\u00a0a European\u2026","rel":"","context":"In "Zillow.com"","block_context":{"text":"Zillow.com","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/zillowcom\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=5764"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5764\/revisions"}],"predecessor-version":[{"id":5766,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5764\/revisions\/5766"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=5764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=5764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=5764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}