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Started By
Message
re: Rates on 30-year loans drop to 5.04 percent
Posted on 9/18/09 at 1:24 pm to MileHigh
Posted on 9/18/09 at 1:24 pm to MileHigh
yep i will drop some wisdom real quick..the rate goes up after the first of the year not oct. the feds stops there support in oct. but there support has been helping only in small amounts since may. the low rate is being driven by the slumping houseing market in my opinion. the banks and powers at be know if rates climb over 6% it kills what market they have left and really starts to affect these big banks. no to mention there is no more shite loans getting thru the MBS paper being bought and sold right now is some of the best they have seen in 10yrs.
will rates go up yes. but not to high. throw logic out the window guys the goverment sure did.
will rates go up yes. but not to high. throw logic out the window guys the goverment sure did.
1
Posted on 9/18/09 at 1:28 pm to displacedhorn
So why do they go up after the first of the year and not October? I have a hard time believing the MBS program is only helping in small amounts, when you consider the volume of MBS that they have been buying (over 100% of issuance since the program started). Any info you can provide on those questions is most appreciated.
Posted on 9/18/09 at 1:35 pm to kfizzle85
quote:I'll try to find it later and post it.
I would love to see that thread, I don't remember that one at all.
Posted on 9/18/09 at 1:46 pm to kfizzle85
i cant quote an article but its the way this market has been treating us. when the rate hit its "high" point this year it was 5.5%. the rate hasnt responded well to the fed auctions until the last one. that drove the rate down. but what really drives it down is when the you hear how were are not out of the dark with the economy and that the treasuries are a good investment. so its going to be a ride to the end of the year, then the FHA programs come up for review (loan limit was increased last year) and the new 8 page GFW comes out..then the shite hits the fan
Posted on 9/18/09 at 1:52 pm to displacedhorn
I don't think its about driving them lower as much as it is them hitting a lower bound. I obviously have nothing to back that up with, I just think you're underestimating the Fed's actions and ability to put a ceiling on the market, but I don't think they'll go up "that" much, either.
This happens in January? Whats GFW?
quote:
then the FHA programs come up for review (loan limit was increased last year) and the new 8 page GFW comes out..then the shite hits the fan
This happens in January? Whats GFW?
Posted on 9/18/09 at 2:00 pm to kfizzle85
GFE sorry ..good faith estimate..its 2 pages now. the govt. changed it 8 pages of crap now ..its going to confuse everyone
Posted on 9/18/09 at 2:01 pm to displacedhorn
Nice.Posted on 9/18/09 at 2:04 pm to kfizzle85
the amount of paperwork people have to sign now is amazing. i sent out VA disclosures yesterday to a customer ..56 pages..and its going to get worse by the end of the year. and now they make the loan officers disclose our back end yeild spread..thats what really pisses me off. does the car sales guy have to tell you what he is making..what about the guy at the bank he doesnt.just us dirty underhanded mortgage brokers.. 
Posted on 9/18/09 at 2:13 pm to displacedhorn
quote:
just us dirty underhanded mortgage brokers..
Yep yep.
Posted on 9/19/09 at 11:54 am to kfizzle85
quote:
I would love to see that thread, I don't remember that one at all.
Here it is: 6.85% 30 year yield by 12/31/09 prediction
Posted on 9/19/09 at 11:55 am to MileHigh
quote:I just saw this post, MH. Congrats! I hope it works out for you!
You will be pleased to know that the wife and I might buy a house very shortly, i.e. next week.
Posted on 9/19/09 at 12:05 pm to LSURussian
Oh, I do remember that thread. In fairness, the only other person who predicted anything was Gen. Lee.
Posted on 9/19/09 at 12:12 pm to kfizzle85
quote:Did you miss this prediction in that thread by tigerjjs?
In fairness, the only other person who predicted anything was Gen. Lee.
quote:
So... anyone care to speculate on the 30 year yield? 10% by year end? higher?
Posted on 9/19/09 at 12:14 pm to LSURussian
Ha, yes I did.
Posted on 9/21/09 at 6:11 pm to kfizzle85
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