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Mortgage Market Update 10:39 am 3/18/08

Stocks soar on better than expected reports from both Lehman and Goldman Sachs. Signaled to investors they may weather this storm, however the same thing was said by Bear Stearn so only time will tell. Still awaiting the Fed news but mortgage rates posted out the same as late yesterday - no change yet.

Keep your eye on the bond yield...Currently at 3.41% (3.3 yesterday) you could see a mid day price increase if the stocks continue to take off.

More later today!

Posted by Sherry Connor on 03/18/2008 09:42 AM

Comments (10)

mortgage market update, sherry bradley, refi, rates, finance

10 Comments on Mortgage Market Update 10:39 am 3/18/08

Thanks for the update and good information. keep up the good work and good luck

03/18/2008 09:45 AM

by RICHARD PERKINS (Big Trees Realty)

Great intuition! I think the announcement will be tomorrow - right? Around 2:00? We are going to be on pins and needles until then!

03/18/2008 09:50 AM

by Eleanor Thorne, Cary Mortgage Loans (Meridian Residential)

Rates from Chase came out about 45 minutes ago. Pricing is worse since yesterday. Had two loans had priced but could not lock last night. cost over 1/4 more today.

Tony

03/18/2008 09:50 AM

by Tony Grego with AmeriSave

Sherry - Thanks for the update, we will have to keep our fingers crossed that we weather this storm without hitting a recession.

03/18/2008 09:52 AM

by Solaris Realty

Good morning Sherry,

What do think the effect is going to be when the fed makes its cut?

03/18/2008 10:11 AM

by Rick Kellow

Losing some of the gain from yesterday and ready for another wild day..... good thing the tums and ~~rum~~ are ready

03/18/2008 10:11 AM

by Joe Adams (Major Mortgage USA/Branch Manager)

It better be a 1 point cut or we all can go on vacation for a bit.......

03/18/2008 10:41 AM

by Lewis Poretz - Open Mortgage - Maryland Mortgage Expert

Thanks to all who have commented...

We just repriced for the worst. Sorry Tony...Retail had better rates than Wholesale for a short period.

Rick - With a big dip in the Fed Funds rate expect the stock market to stay high and bonds to suffer. Rates back above 6% - that's just my prediction.

Good Luck,

Sherry

03/18/2008 11:21 AM

by Sherry Connor (Fidelity and Trust Mortgage)

Whew what a morning got the locks in before the reprice..... now where is that rum

03/18/2008 11:41 AM

by Joe Adams (Major Mortgage USA/Branch Manager)

Joe - I would wait on that drink...the dow is about to surge 400pts!

03/18/2008 02:55 PM

by Sherry Connor (Fidelity and Trust Mortgage)