Phil Grossfield's Blog


Fed Declares Happy Hour Mandatory! Hallelujah!

Ben3Fed Tapers Tapering!  I said the likelihood the Fed would back off QE tapering was as likely as:

1. The Minnesota Vikings Winning the Superbowl;
2. Me winning the Powerball Lottery; and
3. The Fed declaring daily Happy Hour mandatory for the entire mortgage industry.

DREAMS DO COME TRUE! The Fed said it would continue to buy bonds at the same clip previously, nearly $85/month because of a soft economy. I am ecstatic! Price improvements are coming already…buckle up! The Fannie 30-year bond is up over +115bps so far and rising! Interbank already repriced twice and the bond continues to soar. I recommend you wait to lock and see where things settle for now.





Wholesale: Non-Conforming Matrix & Guidelines
Correspondent: Non-Conforming Matrix & Guidelines


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