October 17th, 2013 9:44 AM by BILL WILBANKS
Well, DC stepped back from the budget cliff last night for 90 more days. The DOW rallied yesterday over a 100 points on the hope of a deal, after being down the day before over a 100 points and now opens down 136 points on the actual poor earnings news by a couple major players. The 10 yr note is now down to 2.62% compared to yesterday AM in the high 2.6's. Many lenders that were conservatively up on points in the morning yesterday bumped points back down by -.25% point +/- in the afternoon. New sheets will evidence whether we see any further movement from the late day Wednesday reduction on points, later this morning as lenders post AM pricing. I pine for the days when the biggest questions of the day were "Do you want a 30 year or 15 year term?" or simply "When would you like to close?" It doesn't have to be this involved....
Update Today: Nice improvement today over yesterday AM sheets. Call for your custom quote.