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re: mortgage interest rates
Posted on 3/10/20 at 3:39 pm to B4YOU
Posted on 3/10/20 at 3:39 pm to B4YOU
quote:
Rates quoted yesterday 2.875-3.0. Rate quoted today 3.375. Every bank just put the stop on 3% loans. Loan officer just informed me they suspended and system is down.
How is this not price fixing? Every bank at once reprices loans by .3-.5%
From what I am hearing, demand is so high that they don't have to lower rates below 3% anymore. It is a market. They don't have to follow the Fed.
1
Posted on 3/10/20 at 4:43 pm to lsu13lsu
just more sellers of mortgage backed securities than buyers today. Buyers saw better opportunities in other securities. MBS and treasuries just got priced too high for the yield and corrected the other direction for other risk profiles. Wouldn't really call that price fixing.
Lsu13lsu is right too although the Fed's over night rate that banks lend each other has some dictate on long term MBS and treasuries those two don't have to go the same way at the same time.
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