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Do you expect the home buyer tax credit extension to contribute to a noticeable pick up in loan production?

Created By: Adam Quinones

Yes, I anticipate an increase in activity (26.9%)
Only a modest upturn in production (43.8%)
Nope. 2009 demand stole from 2010 demand (29.2%)

Total Votes: 130
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Federal Reserve MBS Purchase Program

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» MBS Commentary Home

MBS ALERT: Yields Rising Rapidly After Stocks Open Stronger

by Adam Quinones

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Stocks are loving the anti-deflation data this AM. At the 930 opening bell, stocks are making new 2009 highs again...and the bond market is suffering.

If you were floating overnight and rate sheets have already been published (cough suntrust, citi)...you might want to take the gains that were offered up because rate sheet influential MBS prices are falling fast and lenders are likely to recall rate sheet sheets..

Seeee....

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Comments

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Adam Quinones | Contact or Connect with this Member

whats up people?

Matt Hodges | Contact or Connect with this Member

Subtle you are not; the advice though, is timely and appreciated.

Peter Gladkin | Contact or Connect with this Member

good stuff, well not really with rates increasing... you get my meaning. Hope 10 yr tsy doesn't break through 3.5000, but am half expecting it to today. I am ready to forget this week.

Michael Cromwell | Contact or Connect with this Member

That last top story and this, supposed, spat w/ the Chinese has me a little nervous heading towards next week's auctions. Think I may just lock 'em all in and move on to the next round. It has been a SLOW start to the week for me. I'm concerned with how my pipeline is going to look over the next couple of months.

Andrew Russell | Contact or Connect with this Member

Michael, unless you are rocking and rolling with purchases the refi business is at a stand still... Where is our aggressive cash out refinance product? 95 ltv FHA is coming back, I know it is... ;)

Michael Cromwell | Contact or Connect with this Member

I'm 99% purchase business Andrew. LTV issues have killed the refi business in my area.

Reichert | Contact or Connect with this Member

20% of my current month's pipe are refinances - the other 80% are purchases . . . thankfully. Compared to last month when 45% were refinances and 55% purchases. I think people are chasing the real estate tax credit. .albeit at the last minute.

Jason Harris | Contact or Connect with this Member

I still do too many refi's for my liking from a ratio perspective...but my pipe just cleared 2.5 Million w/ 10 units locked. (One high balance helps that average loan amount quite a bit) Been since June that I have had this nice a roll....been selling the 5/1 ARM as hard as I can. 3.875% to 4% makes this loan look as strong as I can remember in years.

Dave Kennedy | Contact or Connect with this Member

I'm just a lowly appraiser, but sales and refis are coming in at about 50-50.