Where R Rates / MBS Market Update
ANOTHER GREEN DAY
Color me green my friends and I am wondering how many more days of green we will see.
We are now at 12 out of 13 days with green on the screen. This is a very long upward climb and great for rates. We are definitely due for a red kind of day soon so make sure your borrowers know this when deciding to lock or not to lock.
We have broken through the ceiling of resistance and if we stay where we are for a couple more days then those ceilings now become floors of support which is exactly what we are hoping. You may not have realized it but the 10 Yr if you follow it is down to 4.13. Have not seen that in quite some time.
What is driving these rates? It is very simple. Inflation is not getting better which is what WILL give us better rates. It is simply uncertainly. During times of uncertainty investors come to the bond market for security.
Ukraine and Russia, Tariffs, Oil, Financial Policy Changes and you name it with everything else. There is security in fixed rate securities and that is driving this recent improvement in rates.
The U.S. Economic Optimism Index came in this morning and optimism is down as it pertains to what Americans are expecting in the next 6 months. It is a nationwide survey of 1300 adults and asks about the personal financial outlook and their confidence in federal economic policies. I am sure this index could be skewed heavily depending on the surveyors but currently optimism shows down a bit.
Not much else happening today. We do have 1 Fed Speaker and we had Redbook this morning as well. It came in up 6.6% year over year. Basically, they take the same store sales from the same week last year and compare it to the past week and it tells us if retail sales are up or down year over year.
If you notice the stock market is getting hammered today as well. The main reason for that is that there are worries that Trump’s latest tariffs will slow down the economy and a reminder that is why we are seeing better rates.
Have a great day all!
| YESTERDAY CONV 5.5% – UP 13 CONV 6.0% – UP 10 GOVT 6.0% – UP 9 10 YR NOTE – UP 2 DOW JONES – DOWN 649 |
| SO FAR TODAY CONV 5.5% – UP 12 CONV 6.0% – UP 19 GOVT 6.0% – UP 28 10 YR NOTE – DOWN 2 TO 4.13 DOW JONES – DOWN 554 |
GREEN is GOOD for Rates – RED is BAD for Rates
Product & Guideline Highlights Ad Mortgage Products
FASTER VA APPRAISALS
I ran across this with a client recently and neither he nor I was aware of the advantages of checking this box when ordering a VA appraisal.
When you are ordering a VA appraisal there is a question that says “Can assisted appraisal processing program (AAPP) be utilized on this appraisal assignment?”
Make sure you answer yes to that question and you may find that you receive your appraisal potentially a little bit quicker.
By answering yes to this question it allows appraiser trainees to perform the appraisal and then a supervisory appraiser counter signs the documents.
By doing this it allows more appraisers to perform appraisals, get experience and provide faster service for Veterans.
This is typically allowed on the more non-complex property appraisals.
Here is the section I am referencing. Section 1E.
Jackism of the Day
INDISTINGUISHABLE
One of the greatest tragedies of generations today is the truth that most people are not indistinguishable.
Sure, there are little things that make you and I unique and if you were to ask someone this question. What is it about me that is different than anyone else you know?
You will likely get something about your personality traits. A little something that you do that others may not do the same way.
Then if you were to ask a different question. What distinguishes me from every person around me? What makes me different, special, unique, in our own class or style?
Here is a good example. In today’s society. Is it easy to distinguish the difference between a believer and a non-believer? Would you even know if they are or are not for many of them?
Now to get crystal clear. Lets say you know what they say they are. Now lets ask the same question. Based on their “actions” can you distinguish between one or the other?
I am just using this as an example. Not doing any believers bashing here. I assure you there are many days you could not tell the difference with me either.
What were you sent to do with your life? Do you distinguish yourself between you and the norm in society? Do you excel in one area of your life that if those in your INNER CIRCLE were asked what distinguishes you from them? What would they say?
Would they say you integrity and character is unapproachable?
Would they say you are driven more than anyone they know?
Would they say you are disciplined in a certain area?
An exceptional mom, dad, child?
Excel at a sport or hobby unlike anyone they know?
Would they say hands down you are the smartest person they ever met?
Would they come to you for financial advice because you are smart with your money?
What makes you, you? What makes you indistinguishable from the rest of the world? What sets you apart?
If you cannot answer this question for yourself then what do you think those that surround you each day look up to you for?
There is not one single human being that is like another. We are all created different and unique. We are all special in our own way. The question is do we own what makes us special and unique?
My point today is do not be the status quo. Do not excel to be what everyone else is or expects you to be. Distinguish yourself in a positive way that only you can do for those that are around you.
I want to be like others in some ways. But there are certainly things I believe in that it is my greatest desire that they know and see who I truly am that sets me apart from others to make my mark on this world like nobody else can.
I pray the same thing for you.
