fed minutes: Mortgage Market Guide as of Wednesday, November 21, 2007
- 11/21/07 04:30 AM
THE ELASTIC WAISTLINE PANTS ARE READY FOR TOMORROW!!! Volatility continues in the Bond Market. Currently, bonds are up a whopping +38 basis points so we're enjoying this news. As of today, we are offering 30-year fixed at 6.375% with NO points and we will advise to "float" your interest rate to see if further gains come our way. Yesterday, Mortgage Bonds opened lower, hovered on an support floor of support throughout the day before dropping sharply right before the market close. Unfortunately, we heard of some lenders re-pricing early in the day, which is unusual in advance of the release of the Fed … (0 comments)
fed minutes: Mortgage Market Guide as of Tuesday, November 20, 2007 -- Mortgage Rate Increase
- 11/20/07 08:55 AM
LOCK 'EM IF YOU GOT 'EM! Welcome to our roller coaster ride! Yesterday's update ended with a "floating" stance because bonds closed out the day at +25 points....so, of course, we thought rates would get better. Right out the gate this morning, bonds opened up at roughly -22 basis points so they woke up on the wrong side of the bed. Throughout the day, they deteriorated even more and closed out the day at -34. Although none of our lenders issued a rate increase, we do expect the increase to hit tomorrow. So if you have overnight protection..........lock 'em if you got 'em! Why … (2 comments)
THE ELASTIC WAISTLINE PANTS ARE READY FOR TOMORROW!!!;)
;)
