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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!