Shake it off MBS, shake it off.

I'm happy that some people listened to me yesterday and locked. Others were greedy and now have to sit and wait. All the while appraisals are expiring and docs need to be updated. I'm glad the clients that locked yesterday did as they are really great people and it would have sucked to call them today and tell them they missed the boat. That said, this is a big week and we could see a reversal.

Ouch

Goldman Stock is loosing some steam but the other reports are going to hurt... even though we know the stats are juked.

haha game over might be a bit harsh for non family guy watchers...this is why I advised that I would be locking more loans that floating yesterday. This is not the "crowd fleeing the burning building" sell off that we discussed in the past so I will stick to my theory that the yield curve will be moderated by the recent range. Again..the big picture problem still remains, economic growth is expected to stagnate as households rebuild savings. Furthermore, looking passed GS earning record FICC revenues...how will banks make money in the future (besides trading revenues)? Well...UW revenues...whoa!

I think you're right Adam. I really doubt the crowd would be fleeing the burning building on a better then expected PPI number. The only data in my mind that will cause this to happen would be some sort of extremely better then expected jobs data which I don't see happening for a long time.

2 steps forward 2 steps back. We still have made a lot of progress and I believe we will see continued progress lower. You can't have a winner every day.

id assume buy the rumor sell the news would also be governing market flows.

I'm glad I locked yesterday. I did an 30 year fixed FHA at 5.5 with only the 3.5% down and no points. Now I can sleep at night. (Well, maybe not totally soundly, I do have a one time use float option...) Thank you for all the excellent info on this site! You guys (and gals) are amazing!

I associate the "Game over, man!" phrase with the second Aliens movie. There was one soldier (Hicks?) who was always saying that.

MBS is bouncing back. GO GREEN. MBS is going to make me a JETS fan.

I just saw the chart and if I were new to this, I would freak!

Just wanted to say thanks to everyone for the insight I've gained over the past several weeks. I just locked this morning at 5.25% with .25 points on $417K, and can buy down to 5.125% for $1500. Anyway, looks like I missed Friday's bottom by .125%, but I might have avoided worse, and I still have to be happy. I'm .5% lower than I might have been before finding this site, so thanks again. Now to see if I'll continue my habit of watching this site throughout the day! I've been addicted, and it has been great insight into the markets. I never did ask a direct "float or lock" question, but maybe I'll drop Hammer a direct line just to bug him. :) Or maybe sharing the details of my loan and my gratitude is enough already. Just kidding, Hammer. Anyway, thanks to all, and especially Adam, Matt, and Victor.

Adam D, I must assume you are a Giants fan and to make that statement in some circles in da neighbahood could cost you!

My pipeline is all locked...time to close em.

Is the MBS quoites correct???? 4.5 down almost 300bps?

Time for the float or lock question of the day...............180 days from a new build...............30y standard loan, excellent credit........I havea quote of 5.25% for 181 day lock at 1.125% fee. Lock or float?

I should not have been off yesterday.