Posted To: Pipeline Press

As everyone grapples with changing the clock in their car… The world’s shortest horror movie? At 14 seconds, here you go . (Thanks to Kevin K. for that one.) I was surprised by a question I received in Chicago last week. “Are you hearing of home sellers holding off on open houses not wanting to have 50 strangers cycle through their house?” What I am not surprised by is the reaction to the rate moves. The “risk free” U.S. 10-year is yielding .4 percent this morning. Volatility is no lender’s friend. Indeed, lender’s worlds are filled with early pay off penalties, renegotiations, margin calls, servicing write downs, and lengthy appraisal delays in many areas. Our industry can’t refinance $10 trillion of outstanding MBS in three months. COVID…(read more)

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Source: Mortgage News Daily