mortgage markets: Mortgage Market Update Week of 4/23-4/27/12 - 04/23/12 08:40 PM
Mortgage Market Update Week of 4/23-4/27/12
A nice uptick to start the week is not that surprising. The FNMA 3.5 coupon took some nice gains to raise appx 18bps to close at 103.719. What this means is those who have not yet locked in on their loan, pricing may see a little relief / better prices for the rate they are looking at. 
Even though the overall feeling of the economy is starting to shift to improved we still have a long way to go to get beyond this catastrophe that almost wiped out the global economy. EU concerns still loom large as does … (0 comments)

mortgage markets: WHat goes up must come down... - 04/11/12 08:57 PM
What goes up must come down... (no this is not old school mad props to Spinning Wheel by BST lol)
Anyway what I am talking about is the markets lately. It seems whenever ANYTHING happens it is totally overreacted to and causes illogical trading patterns.
Last week Bernanke spoke and a sentence was dissected and then caused an 85bps sell off in a period of 2 hours???
What followed was the reality of what happened and our current jacked up economy/market and we replaced ALL that was lost and then by Friday awoke to the rebound of the week and it … (5 comments)

mortgage markets: Low Rates ACT fast or could be POOF they are gone! - 03/14/12 09:01 PM
Low Rates, ACT fast or could be POOF they are gone!
I get the fact everyone is under the impression that low rates are probably here to stay, or at least for the next couple years seems to be the consensus. I think the lackadaisical approach to this caught a lot of people sleep walking and the last 2 days have been proof positive things can and DO change constantly, in our industry. Since Mondays opening bell the FNMA 3.5 coupon was hovering around the 103.25 area, as of closing bell today it IMPROVED just to get back to a 100bps … (3 comments)

mortgage markets: Mortgage Market Update week of 1/9/ - 1/13/12 - 01/10/12 10:48 AM
Mortgage market Update week of 1/9 - 1/13/12
Today brings us the seemingly typical "I am not really sure what direction to take" mentality.
FNMA Bonds opened up with a size-able gap down of -15bps and in less than an hour of trading retraced +18bps of that loss putting the FNMA 3.5 coupon back just over its closing levels of yesterday, currently trading at 103.250.
-15bps is not the end of the world by any stretch but it is a rather decent size movement and the off again on again mentality, to me, indicates a market that is likely top heavy and one that … (1 comments)

mortgage markets: Mortgage market 10/20/11 - Similar to the Big Bang... that didnt happen! - 10/20/11 12:14 PM
Mortgage Market 10/20/11 - Similar to the Big Bang... that didn't happen!
OK so why the title you ask... why not its relevant factual and another example of how our beloved media constantly gets people all worked up in a frenzy over something that doesn't happen???
So here was the "HYPE" for the week. PPI and CPI numbers along with release of the Fed Beige Book would be major market movers depending on the data.
The result... customers looking to LOCK in before the fateful day. Wise originators explaining the potential good and bad of positive or negative news (today the … (3 comments)

 
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David Shamansky - Creative, Aggresive & 580 FICO - OK, Colorado Mortgage Lender

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US Mortgages - David Shamansky

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Life, Lessons, Encouragment and a little market insight to boot, is a blog written by David Shamansky. I write this as a daily informational and encouragement resource to others in the real estate and mortgage community.


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