Phil Grossfield's Blog

It’s not the miles, it’s how you live them…  Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body. But rather, to skid in broadside, thoroughly used up,totally worn out, and loudly proclaiming …. WOW what a ride! ~Mark Frost

It’s not the miles, it’s how you live them…

My Market Watch:  Bonds Up Again – Arm & Fixed Pricing Improved…Again!  The  30-year Fannie Mae bond is trading up again about +30bps.

Government Shutdown. What?!  The government is preparing to shut down next week. I can’t believe I just typed that. I don’t even know where to begin on this topic. Is Obama right? Should he continue to stand his ground? Are the Republicans being unreasonable? At what cost? I’m absolutely categorically disappointed in our government, Democrats and Republicans alike. That’s all I have to say about that, at least for now….

I strongly encourage you to lock as many loans as you can…preferably now. I know pricing has improved steadily, but rates are great…get commitments from your borrowers!   Take advantage of this time. I don’t want to be a buzz-kill, but it’s not going to last. If we’re lucky, we can squeeze a couple of more months out of the current low trend. But eventually QE Tapering will make its way back to the forefront, and when that happens, well, you know….  So, use this as a motivation to get as much business as you can, and acquire as many referral sources as you can. When rates increase, you will need those referral sources greatly.

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