Orlando Mortgage Blog

Bond Woes Today

August 24th, 2011 4:06 PM by BILL WILBANKS


After the 10 year closed higher last evening again at a 2.153% yield, we've now seen it rise to a current high at 3:51 PM just before closing to hit a 2.2959% yield, up 0.1429%, so it's no wonder we've seen three rate sheet re-pricings today. Net impact on points so far appears to be about 25 bps across the board from where lender points started this morning. And that was up from the day before. The DOW was up 129 points about the same time. Have we bounced off bottom what has been a 50 year bottom? Who knows? Bernanke's comments this Friday have folks betting in both directions. QE3? Will he push short term instead of long term bonds. Or, what? Time will tell. Hope you had your stuff ready to take advantage of the rate swing, as we suggest all over our site, the day it swung your way. Remember, the lowest rates available always require complete loan files to obtain them and a little time to get registered on someone's system. So be prepared.

Posted in:General
Posted by BILL WILBANKS on August 24th, 2011 4:06 PM


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