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| Mortgage bonds poke through resistance (again!)
Easy 30 FRM *BELOW* 4% (with rebates as well) BIG pop up in Mortgage Securities
30 FRM @ 3.875% giving 1/4 rebate
15 FRM @ 3.5% giving 10 basis points rebate
5 ARM @ 3.25% giving almost 2 FULL points rebate
(All pricing is base pricing... you might face additional hits for various issues like location, structure type, credit score, debt ratios, etc.) No idea how much better it could get from here... but I expect its not running up anytime soon. Cheers,
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Here is a link that might be useful: BIG pop up in Mortgage Securities
Follow-Up Postings:
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| Crazy! It's almost like free money Dave. I have a 2.5% "adjustable" HELOC for the past few years. I keep wondering when it's going to be adjusted. Ain't happened yet. |
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- Posted by dave_donhoff (dwdonhoff@hotmail.com) on Wed, Sep 1, 10 at 15:34
| A hedge fund trader who is a friend of mine read my post and emailed me yesterday reminding me that the Japanese mortgages gradually dropped to about 3%... and have STAYED THERE for over a decade now. There's nothing in the economic markets strongly suggesting we'll escape the same fate*. (And I use the word "fate" because while low rates are good for borrowers (the borrowers still have to qualify, meaning earn enough income,) low rates suck for retirees and others who need fixed-income safe investments.) We're in for interesting times, to be sure. Cheers, |
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