Phil Grossfield's Blog



gratefulSo Grateful!  Wow, we must be doing something right, because Friday and yesterday were MONSTER lock/submission days and I’ve already seen a bunch come in this morning.  What’s awesome about this is the repeat business.  Yes, our pricing is ridiculously strong, but our improved service levels and speed are bringing you back.  Thank goodness we beefed up our operation staff to handle the influx.
Not only did I take a ton of locks and submissions personally but the rest of our AEs each took a ton as well.  I haven’t had lock/submission days like this in a long time!  Ethos is on fire…  So grateful! 
MY MARKET UPDATE:  The Fannie Mae 30-year bond is +38bps since yesterday’s close. Generally a lender’s rates/pricing improves when the bond is being bought.  Pricing improved by 40-50bps on Friday and today we’re up another 30-40 bps!  Bonds are reacting to the stock market which is not doing so great.  Today it’s oil prices driving traders to dump stocks and invest in safer bonds instead.
Check it out:  U.S. Stocks Sink With Markets Around the World
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