Loan Biz Blog

Figures – just after I send out my update about a “quiet trading day”, the market slips. Although a pricing change is not imminent at this point, you may want to cover any locks you are sitting on. MBSs off 5/32s and 10 Yr Treasury is off 13/32s.

Yesterday was a great day for rates even with the mixed news. Jobless Claims were up but Leading Economic Indicators rose .9, more than expected, and the Phily Fed survey rose to its highest levels since 2005. This morning the market opened fairly flat, with MBS pricing unchanged and the 10 Year down 4/32s. As we approach Noon, the market has softened slightly with MBS pricing now off slightly (2/32s) and the 10 Yr stands at 3.52 yield. With this being the Friday before Christmas, quiet trading should be expected throughout the remainder of the day. No Economic news today or Monday, but keep an eye on those frisky Iranians as any clashes with Iraq over disputed oil fields could push crude prices way up.

For those who have not attended a New Pricing Policy Training, you still have a chance at 2pm CST today and at 10am CST Monday or Tuesday. (To sign up, see links below)

We are a little thin in Secondary this afternoon, as proud Father Eggen is off to see his son’s college graduation, Joe Webb is out, and Melanie Simmer is rocking New Orleans like a hurricane.

With Permission & Courtesy of Chris Cordry
VP Secondary Marketing

For other rate lock advisory commentary please visit:
http://www.mrloanbiz.com/DailyRateAdvisory

Sam Cowen
Your Mortgage Professional
PrimeLending | a PlainsCapital Company
Email: 888@MrLoanBiz.Com Web: www.MrLoanBiz.Com
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