Blog of the Mortgage

February 8th, 2008 9:25 AM

Well, it's up, it's down: but right now Lock 'em if you like 'em.

Jiminy crickets! 3 price changes yesterday again. All of my competitors too. Remember to log-in to our site for up to the minute pricing.
If you have been trying to stay on top of pricing like I have you've likely noticed that there is just about too much volatility in a given week to make a sound guess.
Rates? Schmates! And all while Your client is telling you that Wells or BofA retail is giving it away (no really, they practically are).
If you're wondering what's happened yesterday: It was Fed President Richard Fisher spent some time outside the lines talking about inflation in front of a group of Dallas Business men. Bonds hate inflation so in this market where apparently no one can figure out if we're actually going into a recession or if companies will hit earnings marks or if there are future issues in the world banking cosmos traders sold out of long(er) term positions in favor of some near term gains in equities.

Either way: we're basically back to where we started yesterday and if you can float do it. We'll have our 5.375% @ par back shortly. Some time mid-next week. Everything is pointing negative for Housing/Economy and this will slowly seep into the traders brains again as further dour news presents itself.

Remember: this price pendulum will swing both ways very quickly so don't be surprised when it violently swings one way or the other.
Posted by Raoul Badde on February 8th, 2008 9:25 AMPost a Comment (0)
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