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Some Final Thoughts
Posted to: MBS Commentary
Wednesday, November 5, 2008 6:13 PM

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A couple final thoughts...

Lenders release rates at different times. They have different mentalities when it comes to pricing. I comment on MBS, not on particular lenders. What your lender does can vary greatly from what is available them on MBS markets, especially if they are overworked or underfunded.

Other services may tell you what you want to hear and some may take pride in their strong stance on lock recommendations. The bad news for you and them is that lock recommendations can only ever be accurate enough to help you if you are talking about a VERY short time horizon. So I will present you with the raw data, give you my personal analysis of it, present you with the potential outcomes from impending data, and suggest that you apply your own lens to the facts. The exception is that we are all pretty accurate when it comes to reprice alerts. Just make sure to keep track of who gets em to you quickest and cheapest.

If you've read this far, it means you are more dedicated to understanding the mortgage market than 90% of your peers. It is very rewarding when a client chooses you because of your understanding of the subject. It is even more rewarding when you see a .500 YSP reprice 30 minutes before it hits on a $400,000 loan! So if you're not in the boat already, I invite you to come track the mortgage market with me, learn from the data, share your thoughts about how what I am doing can be improved, and we can both continue to improve together by delivering a higher level of quality to our readers. Thanks!

[Part 1]   [Part 2]   [Part 3]   [Part 4]       [Return to the blog]

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.64%
  • |
  • 15 Yr FRM 2.93%
  • |
  • Jumbo 30 Year Fixed 3.60%
MBS Prices:
  • 30YR FNMA 4.5 108-30 (-0-02)
  • |
  • 30YR FNMA 5.0 110-20 (0-01)
  • |
  • 30YR FNMA 5.5 111-28 (0-00)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%