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Fed Speak

By
Mortgage and Lending with US Mortgages - David Shamansky NMLS#392126

Yes the markets go as the feds speak!

Yesterday was proof positive that FEAR and panic can cause a very irritating market for those trying to close and haven't yet chosen to lock. Seeing nearly 100 bps lost just yesterday and closer to 250 over the last couple weeks has made it costly to chose to risk the float rather than to lock.

Today did bring some of the returns I expected them to and while it did not hit the 50-70bps range of retracement I expected, it did get very close with gains today of 46bps giving the FNMA 3.0 coupon an end on a high note of 101.406 from yesterdays close of 100.906

I expect to see more gains tomorrow and for those who were not locked I think tomorrow may be a good day to minimize any losses and get locked in.

Make it a great day and DON'T lose sleep over what you cant control markets will move and its why we advise most times its better to be safe than sorry

Posted by

araward

Colorado 1st Time buyers, if you are ready to stop renting, get the many benefits from home ownership, or maybe your a current homeowner looking to move up or maybe looking into what it takes to become an investor in this incredible market, that WILL create millionaires, and you are looking for a strategy, answers and direction, please feel free to call or email me. My 22yrs in mortgage lending and 30+ years in finance gives me an in depth knowledge, critical to helping others and making their dreams go from dream to reality!

David Shamansky
"Positive reinforcer, promoter, success coach, entrepreneur, team builder, wealth builder, blessed individual, business leader and professional lender"

US Mortgages
6855 S Havana St Ste 520
Centennial CO 80112
720-524-8020
NMLS#392126
Equal Housing Lender

*photos used may come from my personal pictures or www.freedigitalphotos.net

 

Comments(9)

John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Be safe not sorry..... Lock it in!

Feb 18, 2015 07:39 AM
Dan Spencer
Aspen Lane Real Estate - Aurora, CO
Your Colorado Home Source

Listen to the expert. Lock it in When advised! 

Feb 18, 2015 07:42 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I am not much of a risk taker so would have locked earlier. You have such a good handle on the market David.

Feb 18, 2015 08:24 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

David - It is always better to be safe than sorry, especially when it comes to locking in loan rates.

Feb 18, 2015 08:28 AM
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

David Shamansky You are correct that the mortgage market is extremely volatile right now. Super advice for buyers to lock in ASAP.

Feb 18, 2015 08:59 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello David Shamansky,  I was wondering what your take on it would be, now I know.  Have a good one.

Feb 18, 2015 09:37 AM
William Johnson
Retired - La Jolla, CA
Retired

Hi David, Always good advise and hopefully all your Buyers are following it. When you say to LOCK, they should do that. Thinking it may drop usually spells trouble and the hesitation will most likely cost them. 

Feb 18, 2015 09:48 AM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

You are doing a great job of keeping the buyers informed.  Now they have to make the decision on how to move forward.

Feb 18, 2015 01:07 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning David. You shared good advice, there are so many that get crazy when rates rise, that is what I call being a reaction machine.

Feb 18, 2015 07:23 PM