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tips: Bingo! - 11/12/08 07:24 PM
I've had that "a watched pot never boils" feeling lately with this looming market adjustment that I've been calling for. Well, wouldn't you know that today, the first day I've taken a little bit of a break from my O.C.D.-esque monitoring is the day that we're seeing my prediction sprout some legs!
Here's a brief summary of what we're looking at for right now. Economy....still not good. Jobs report from last week.....hasn't changed and still not good. The problem is that it hasn't impacted the bond market and therefore mortgage rates the way that it "was supposed to impact them." Today, … (1 comments)

tips: Well.....lets see said the blind man. - 11/11/08 09:17 PM
My grandfather used to say that all the time. I've started to think it makes more sense lately. I feel like a blind man trying to get a grip on this market. John Thain, CEO of Merrill Lynch, said that this current global economic landscape is more similar to the 1929 environment leading into the Great Depression, not like the recent recessions of 87, 98, and 01. Considering none of us, or not that I know of anyway, were around and doing business then, that would clear up why no one seems to be able to get a grip on things. The … (6 comments)

tips: Tuesday's thoughts by a member of "The 1/3rd" - 10/14/08 06:21 PM
2/3rd of the people writing mortgages a year ago are now doing something else. 66% of the industry is gone. I would guess that the same will be true for Realtors, appraisers, closing attorney's, etc., not to mention builders, in about 6 months, maybe less, thanks to the little 'lag window' in the financial and the 'boots on the ground' and/or the end user. The last figure I saw for Realtors in South Carolina (an area that has not been hit anywhere near the extent of other markets) was that the registered and licensed Realtors on the SC MLS was somewhere around … (4 comments)

tips: Today; signals from Berhanke on potential Fed moves. - 10/07/08 08:12 PM
The FNMA 5.5% bond jumped around in a 53bp range today but was under profit-taking pressure because of the recent jumps. All surges have to have little retreats in order to sustain themselves and that's pretty much what we saw today. The bond wrapped up the day trading 19bp lower to close at $100.62. Only one or two lenders repriced from for the worse compared to their initial rate sheets of the morning and that was due in large part to the fact that most of the real damage was done early as we still closed up 28bp from the initial … (1 comments)

tips: Weekly Wrap and Strategy For Us All Moving Forward - 10/04/08 11:08 AM
First the wrap up on the week, then the move forward ideas and suggestions.
Our benchmark FNMA 5.5% mortgage bond was in the red most of the day before recovering losses late in the session to move 6bp higher to close at $100.25. Mortgage bonds moved lower and stocks higher initially following a worse than forecast Jobs Report. Payrolls in September were worse than forecast with a loss of 159,000 jobs vs. the estimated loss of 104,000. That makes 9  consecutive month of job losses. Investors had been expecting an even worse number and the bad jobs data made it more … (1 comments)

tips: Credit Scoring, you better know this stuff. - 09/20/08 11:35 AM
Part 1 one of 5:
With an ever increasing number of guideline changes and borrowing money becoming more and more difficult, we have to be able to advise our clients of things they can do in order to help the process out. Income is one that immediate change is often not an option. Assets, with time, can be built up through saving. Credit is often not so much overlooked but seen as the wild card. Almost like people don't have full control over it and certainly no real understanding of it.
Granted, it is not an exact science in that "If I … (3 comments)

 

Clint Hammond

Columbia, SC

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Mortgage Network, Inc

Address: 7011 Garners Ferry Road, Columbia, SC, 29209

Office Phone: (803) 771-6933

Cell Phone: (803) 422-6797

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In depth analysis of the mortgage market, the driving force behind mortgage rates.


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