Phil Grossfield's Blog


Get Ready For A Busy 2015!

creditrepairGet Ready For A Busy 2015!  I’m Yeah, you heard me right…get ready for a busy 2015!  I aint playing either.  There are reasons to be excited about this year. First, foreclosures from years past are maturing.  That is, many borrowers who were foreclosed on in 2008 and 2009 are still waiting for a breath of fresh air, their credit still bruised.  But that’s about to change.  About 25% of renters today spend 50% of their income on rent…can you believe that?!  Seems to me their LO should be in touch with them about ensuring their credit is repaired so they can better their financial position and get back to home-ownership.  Do you feel me?  Can you dig it!  If you’re not calling on them I’m sure another LO would be happy to assist your client.  As my wife would say, “hippity-boppitty-bippity-bip…get going!”  Second, rates are still low!  But we all know this phenomenon will be harder to say soon…and when I say soon I mean this year.  Let’s go!

My Market Update – 1/5/2015

unemployment_rateThe 30-year Fannie Mae bond is trading up +30bps this morning since Friday’s close.  Generally a lender’s pricing improves when the bond is being bought.  Moreover, we have seen a nice rally in the bond market since December 24…see the graphic.


This week is full of market-moving reports.  Wednesday is the ADP Employment report and the release of the Fed minutes from the December meeting.  The Fed minutes always seem to bring some fun to the trading pits.  On Friday is the Non-farm Payroll and unemployment reports…these are the big ones and everyone will be watching closely as an indicator for the next several weeks.

One response to “Get Ready For A Busy 2015!

  1. Bernie January 6, 2015 at 7:23 pm

    yes yes and oh heck yes!!! there are a lot of young people who have been living on their mom’s and dad’s couches that have been saving their money and are looking to become 1st time homebuyers. Then there are those who were the first to be foreclosed on in 2007 and there are those loans whose 7/1 are now maturing and they need a 30 year fixed rate…I am so extra excited for the prospects for this year. Yeah us!!!

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