Wednesday, June 3, 2009
Financial Update June 3, 2009
TSX-15.27because of falling oil and gas stocks
DOW +19.43following news that pending U.S. home sales for April came in much higher than expected
Dollar +.85c to 92.51USD
Oil -$.03 to $68.55US per barrel
Gold-+$4.400 to $983.70USD per ounce
Canadian 5 yr bond yields -03bps to 2.48- Four weeks ago it was 2.00. The spread, based on new 5 yr rate of 4.09%, is at 1.61%.
http://www.financialpost.com/markets/market-data/money-yields-can_us.html?tmp=yields-can_us
The yield, rate of return on your bond, can be read through a yield curve, which is the pattern of yields on bonds. This increase in bond yield is something to watch. If the bond yield continues to go up, the spread will continue to shrink and this could be a trigger for interest rates to rise
Article from MBA Newsletter – if Obama looks to Canada for its banking system, why not follow our mortgage originator registration process also?…..
Mortgage Originator Registration Eyed
American Banker (06/02/09) P. 16; Flitter, Emily
U.S. banking overseers have proposed rules for implementing a national mortgage licensing database. Congress last year passed the Secure and Fair Enforcement for Mortgage Licensing Act, which requires all mortgage originators -- including bank employees -- to register with the Nationwide Mortgage Licensing System and Registry. An originator would receive his or her own unique identification number
DOW +19.43following news that pending U.S. home sales for April came in much higher than expected
Dollar +.85c to 92.51USD
Oil -$.03 to $68.55US per barrel
Gold-+$4.400 to $983.70USD per ounce
Canadian 5 yr bond yields -03bps to 2.48- Four weeks ago it was 2.00. The spread, based on new 5 yr rate of 4.09%, is at 1.61%.
http://www.financialpost.com/markets/market-data/money-yields-can_us.html?tmp=yields-can_us
The yield, rate of return on your bond, can be read through a yield curve, which is the pattern of yields on bonds. This increase in bond yield is something to watch. If the bond yield continues to go up, the spread will continue to shrink and this could be a trigger for interest rates to rise
Article from MBA Newsletter – if Obama looks to Canada for its banking system, why not follow our mortgage originator registration process also?…..
Mortgage Originator Registration Eyed
American Banker (06/02/09) P. 16; Flitter, Emily
U.S. banking overseers have proposed rules for implementing a national mortgage licensing database. Congress last year passed the Secure and Fair Enforcement for Mortgage Licensing Act, which requires all mortgage originators -- including bank employees -- to register with the Nationwide Mortgage Licensing System and Registry. An originator would receive his or her own unique identification number
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