Hmmmm. What to write about on a Friday afternoon at 3:30? The fact that I survived the week? Or the ‘new’ regulation that began yesterday that no lenders can figure out, because it keeps changing? Or the fact that appraisals are a sore topic of discussion for us on a daily basis? Can anything go right? Yes it can….mortgage backed securities enjoyed a nice rally today as GDP was released, showing companies are hiring, economy may be stabilizing. But wait! Usually this type of news makes rates go up. We don’t like good news! But trailing behind the horizon is news that consumers still are not spending. The bitter doom and gloom that the bond market loves, at least for today at 3:30, rates are attractive. Monday may be another story.
Thought for the weekend: KNOW AND LOVE YOUR LENDER. In these legislative times, and with regulation changing constantly, it is more important than ever that your clients know and trust their lender. Do I need to say more?
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