Mortgage Apps UP – Retirement Income Trick – Love Is Hard
Daily Rate Briefing: MORTGAGE APPS UP It’s a good day today because you have the opportunity to impact someone’s life. Maybe today’s intel helps you make a difference. From Tuesday’s open through this morning’s open, we have seen very little volatility. The difference between the highest high and lowest low has only been 22 BPS. […]
Rates Down & Up – Fannie Changes Refi’s – The Better Question
Daily Rate Briefing: RATES DOWN & UP Well Folks, we are starting the day up 16 BPS, so you should see some relief in the morning rate sheets. As a reminder, when I say we are up 16 BPS, that generally means pricing should be about .13 better than yesterday. It is not exact, but […]
Tariffs & Rates – Deals You Missed – How’s Your Norm?
Daily Rate Briefing: TARIFFS AND RATES Let’s start today with applications and see how your pipeline stacks up against the national average. Week over week, mortgage applications fell 2.5%. Refinance applications were down 2.3% and purchase applications slipped 2.9%. In other words, activity was relatively stable. If your application volume is growing, you’re outperforming the […]
Rates & Jobs – C Corp Financing – Your Time
Daily Rate Briefing: RATES & JOBS Due to traveling last week (see Jackism below), this is my first update since last Tuesday. So let’s take a quick look at what happened while I was away. The good news is mortgage-backed securities are up 22 basis points from where they were a week ago. We took […]
Rates Continue Rally – FNMA / Freddie Changes – Family Matters Most
Daily Rate Briefing: RATES CONTINUE RALLY The bond market had some downtime with an early 2 PM close on Friday followed by the market being closed all day Monday. This morning we opened back up after a very interesting week in both the global events and financial markets. We are opening strong this morning with […]
The Real Numbers – Already Approved Condos – The Real Battle
Daily Rate Briefing: THE REAL NUMBERS Ok, we had another rough day in mortgage bonds yesterday, finishing down 35 BPS after being down as much as 50 BPS earlier in the day. We all know the reasons. Iran, deficits, oil, inflation fears and continued uncertainty tied to the ongoing Iran conflict and global market reaction. […]
Rates Hit Hard – Ask Better Questions – She Made My Day
Daily Rate Briefing: RATES HIT HARD This week I will be sending out my Morning Update today and Wednesday instead of the usual Tuesday and Thursday due to travel. I wanted to get this out today because of all the volatility we have seen over the past week. Last week was not a good week […]
Rates Have Rallied – Grasping Foreign Nationals – Unexpected Connection
Daily Rate Briefing: RATES HAVE RALLIED So what happened since Tuesday’s Morning Update? Well, good things happened. Between Tuesday and Wednesday we improved by 50 BPS in the conventional market. Can I get an amen? As of this morning, we are up another 9 BPS, taking us to $590 better pricing per $100K in loan […]
Oil Rocked Rates – Rethinking The Loan – Bring On The Storm
Daily Rate Briefing: OIL ROCKED RATES If you happen to be in Memphis TN at the Great River MBA Conference this week, come introduce yourself at my AD Mortgage booth. I would love to meet you. Yesterday was one of those days where the market reminded us how quickly things can shift. Mortgage bonds sold […]
Calm After Storm – Assets Save Deals – Life Math Check
Daily Rate Briefing: CALM AFTER STORM Yesterday the mortgage market took a hit, but this morning we are seeing a little green on the screen. This is what I call the calm after the storm. We lost 37 basis points yesterday. That translates to about $370 worse pricing per $100K in loan size for the […]