Friday, June 20, 2008

We started the day off well enough and even had the option of a re-price for the better. With Oil down from its high of the day, and all the major Indices also down, it would be safe to say today is a float day.... But it is not. The Bond is still having a hard time recapturing the momentum needed to push rates down.  Currently the bond is up only 3Bp for the day but down 250Bp from when pricing came out.  With companies like Citigroup and Washington mutual talking more write-down's and layoffs, and bond insurers losing their AAA ratings today, it's a wonder that bonds are not lower. Let's face it, as long as the mortgages are still tanking at historic levels, the Security that normally comes out of mortgage backed securities just isn't there. Let's keep locking them as soon as we can for now. If we do get a good day, it is more than likely going to be short lived. 

Karl Menzer

435-849-0212

http://www.menzerteam.com

 
This post has been included in Utah Real Estate News

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Karl Menzer Tooele Utah Real Estate Lender

Tooele, UT

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karlmenzer.com

Address: 36 N Main St., Tooele, Ut , 84074

Office Phone: (435) 849-0212

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