KnowYourPro

Commentary on the current trend in mortgage rates and the economic news that affects it.

Get your rally hats on. Consumer spending lowest in 9 months. Too bad it's friday.

We have all the ingredients for rates to trend lower next week. We should have reprices for the better today BUT I agree, not happening on a friday. Safe to float for now.

Strong MBS support; again, too bad it's friday.

Seems like recently it always falls on a Friday!

Haha suckas. I'm so out of this business. :)

Rates will be lower but not by much more

Rates are LOW as they have ever been right now!!! Get um while you can, as trends show that they will snap up again soon.

It's great! Just locked a 1.85M 30F @ 6.375 with a 1/4 credit towards borrower's closing costs & a 720K 15F Conforming Jumbo @4.500% par. If you haven't re-loaded some of your clients that funded last year, you couldn't pick a better time than now to recontact them! ... Best wishes!

What country club do you belong to Rudi?!?!?!

Rudy, Nice!!!

I have an agency jumbo client that is looking to rate/term refi. he had a 90 day late showing a BofA account, giving him a mid score of 694. Just got the 90 day removed through quick score but his mid moved up to 713. We are thinking of waiting until the first half of dec. rates are steady, and he will be 12 months from the last neg on the credit. Figure that should get him up to the 720. Based on todays pricing the difference in the mid fico is costing about 1/4% in rate.

Rates are hanging on despite the better then expected housing news/strong stocks/commodities. MBS are holding the line, can it get better?

Apparently, the answer is yes. Investors buying 5 years like the equity world is ending!

Wow- rate update-

Float like a butterfly!

Easy to say after being stung on friday.

Come on MBS...come on, you can do it!

Whats going on. I'm working on reviewing and sending in 12 months of bank stmts supporting allimony/support payments. 200 pages min. (angry face)

MBS are putting on a nice rally. We should be getting some re-prices for the better.

I recently picked up about 240 pages of "original" tax returns in person, 3 hours self inflicted mission to get them to submitable state and then returned.

MBS is still hitting it hard after a STRONG day!

Interest Rates 4.25% for Christmas, or lock?
(Where is our home one the "Range" anyway )

After being even better this morning, oh no rates are starting to get worse.

OUCH!! Rates are much worse today, and getting worse by the second!!!

Is this a sign of things to come now that the Fed is about to get up from the MBS table?

Well, a little relief today. Fed won't be completely out until March, or their set-aside money is gone. I think this worsening is just typical investor confidence in equities. It will be back and forth until February, I think.

Who had any idea that rates would have gone down this much after all that went on?