Sherry's Mortgage Blog

In the news today, Jobless Claims are up for first time applications ot 371,000.  Economists had predicted it would increase to 370,000.  Typically when Unemployment is up the stock should be down and the bond market should be up.  Not always the case as Unemployment is a "lagging" indicator so t...

If you are watching the bond market lately...then you've been holding your breath!  The stock market is is up again today on news from Consumer Prices climbing less than expected and Freddie Mac's (2nd largest mortgage lender) posted a smaller than expected loss.  Freddie Mac's stock price was up...

Allan and I actually worked in the mortgage business together (several years ago) before he moved to the Chapel Hill Area and went back to Real Estate!  I hope all you folks in the Triangle Area will take very good care of my friend! Welcome aboard Allan...Nice to have you on the RAIN...  http://...

Expect higher rates today as the Bond yield is currently at 3.92%.  Not surprising as the Stock Market heads above 13000 again.  Pending home sales down 20% from this time a year ago, but this was expected given the market.On a side note, how about Walt Disney profits up 22%.  AHHH, the magic of ...

Fannie Mae and UBS lead off this morning with greater than expected losses.  Fannie mae will reduce dividends to raise capital.  UBS will sell $15 billion of subprime mortgages to BlackRock along with slashing 5500 jobs.  Oil...Oil...Oil  Do I dare bring it up.  Oil is at an all time high and no ...

Stock slide on Consumer confidence reporting lowest level since March 2003.  Bonds have been favored and the yield has pushed back down under 3.8% to 3.78%.  Mortgage rates should relax this morning.  Could be a good day to lock in clients.Tomorrow FOMC meeting could bring out a Fed rate cut, if ...

This week is gonna be interesting.  Stimulus checks go out today and there is a hint that the Fed will lower rates at the FOMC meeting on Wednesday.  Stocks are trying to rise and the bond market is selling up as well.  Yield currently at 3.84%.Mortgage rates on conventional loans still hovering ...

Happy Friday to you!  As Midday approaches the stock market is down 90 points and the bond yield is at 3.85%...this should keep the mortgages rates hovering around 6% today. For those of you awaiting the stimulus package money, the first round of checks are set to go earlier than expected.  First...

and I love it!I recently switched jobs (4/14/08) and began a new chapter in my life.  On first day at Fidelity and Trust Mortgage I had to learn the computer and the ropes by fire.  Keyed my first loan and closed it in 3 days!  Wow that was fast.  Followed that one with another rapid closing and ...

Today could be a very peaceful day with no major reports on the economic calendar.  Citigroup reported another $13 Billion in writeoffs - due to sub prime exposure.  Still waiting hear how Bank of America faired this past quarter.  For today, look mortgage rates to relax - we had a late reprice f...