Where R Rates / MBS Market Update
BIG RATE DAY
As much as we want to see rates get better which they are today. We are hitting some new highs we have not seen in awhile. It is coming at a cost to the economy and to the stock market.
We have some nice green on the screen for mortgage bonds but look at the stock market getting hit being down 1,340 point this morning on the DOW. Don’t look at your stock investments today : )
The tariffs were announced at 4:00 yesterday and it sent investors running for the safe and secure fixed rate securities market causing demand in our mortgage bonds which is great for mortgage rates.
It is kind of funny that we got the balance of trade in this morning. This is one of the reasons Trump is doing the tariffs to equalize our trade deficit. This mornings report shows we are at a 122 billion dollar trade deficit meaning we import 122 billion more than we export.
Interestingly enough that is better than where we were in January which was 130 billion dollar deficit. We shall see how this all plays out.
Initial jobless claims came in a little low this week which is good for the markets although ongoing jobless claims is a bit elevated which washes out the lower initial claims.
I will keep an eye on the markets and you keep your eyes on helping those in your community in to a new home or refinancing the one you have.
Got questions? Just ask. My door is always open as show above.
| YESTERDAY CONV 5.5% – DOWN 6 CONV 6.0% – DOWN 7 GOVT 5.5% – UP 0 GOVT 6.0% – UP 0 10 YR NOTE – DOWN 3 TO 4.13 DOW JONES – UP 235 |
| SO FAR TODAY CONV 5.5% – UP 41 CONV 6.0% – UP 22 GOVT 5.5% – UP 22 GOVT 6.0% – UP 16 10 YR NOTE – DOWN 11 TO 4.02 DOW JONES – DOWN 1,340 |
GREEN is GOOD for Rates – RED is BAD for Rates
Product & Guideline Highlights Ad Mortgage Products
WVOE ONLY
Did you know there are 33.2 million businesses in the the US. Of those, 99.9% of them are small businesses. There are only about 20,000 large businesses with 500+ employees.
Why do I give you these statistics? Well, all businesses are not run equally. They are not organized equally and they certainly are not documented equally.
What happens when you know the borrower makes the money but putting everything together somewhat complicates making a deal work.
Enter the WVOE only program. You have a stable borrower making stable income and you cannot document it properly.
You have a place for this loan. If you have the following you can likely make a deal like this work.
– Two Years with same employer.
– NO paystubs, tax returns, 4506-C or W2’s are required.
– If over 70% LTV then 2 bank statements supporting income deposits.
– At least 75% of income listed on WVOE must be shown on bank statements.
– Cannot be family owned business.
Pretty easy actually. My point here is this. Did you know this product existed? Does your referral partners know this product exists? Does your database know this product exists? This is one little niche of many that gives opportunity to start a conversation with someone else that leads to an opportunity for both you and them.
It goes up to 80% LTV and rates are pretty good.
Go ahead price it out. Price out anything you like. Our rates are posted on our main page and no login or anything is required. Be my guest.
It’s almost fun to play around with : )
https://pricer.admortgage.com/
https://admortgage.com/
Jackism of the Day
SQUASH CYNICISM
There was a man who lived in this town. This town was the center piece of a majestic landscape that had a beautiful lake lapping waves up on to the shore, in the distance lay mountains that reached to the sky where there was green grass and animals of all kinds feeding on the lush grass and high up on top you could see white capped mountains of snow.
Winding country roads allowed you to get from point A to point B and the beautiful old homes and churches that you passed by told stories of times past and futures to be made with people living their best life and enjoying the tranquility that their surroundings offered.
As you entered the town there were vendors offering home made food, craftsman selling what they had made, stores offering everything one needs to live each day. Couples walking down the road holding hands and having a chat, families running in to the ice cream store for a fun night out and relatives visiting and catching up with their relatives.
Everything needed to live an abundant life is right there in front of this man. Every opportunity to embrace and to find an abundant life was right there.
When this man walked out the door he looked at the landscape, the people, the vendors and saw what was not right. Saw what was not working. Was pessimistic about the future of the people, the town and the way it was being run. He did not trust the leadership and doubted the ideas they had put forward. He was skeptical about new ideas and did not see a path to a positive outcome. He saw broken down homes and churches in the countryside and mocked those trying to make a living saying it will only end in disappointment.
This man focused on everything that was not going right when he was surrounded by so much that was. Rather than seeing the 100’s of people a day offer a helping hand to someone in need he saw the one person taking something from another.
Rather than looking in his cupboards to see how much food and drink and clothes and supplies and a home that he had. Instead he looked at what food he did not have, clothes he could not afford and the items not working in the home that gave him cover from the sun, the rain and the elements.
When he went to work rather than seeing where his company was thriving and doing well and decisions that were impacting for the positive. He only saw the failures, the misdeeds and what is not or did not work.
Not only does a Cynic, Pessimist, Skeptic, Doubting, Distrustful person bring his own-self down. He also brings everyone else around him down shutting the doors of opportunity with his mindset and attitude..
You can never receive more of a good thing when the only thing you see is less.
Every situation in life gives us a reason to be a cynic. Similarly, every situation in life also gives us a reason to hope and to grow and to move forward.
We all live in a town and have a life bustling with great things. Sometimes we just need a wake up call to realize everything we do have and stop focusing on everything that we don’t.
If your thoughts and heart and mind have been focusing on what’s not right. I challenge you today to look around to see all that is good in your life and embrace and enjoy it.
