Posted To: Pipeline Press

The end of the third quarter is here already. The fate of Fat Bear Week hangs in the balance given the possible government shutdown. (Although the odds of a shutdown are shifting, here is how it would impact lenders & borrowers .) The focus of financial markets has shifted from the pandemic to growth in economies, and inflation around the world, with our Fed explicitly mentioning the scaling back of asset purchases. We can all live with a 10-year yielding 1.50 percent, and mortgage rates where they are, but the rate of change in the last week has really turned heads. Lenders tell me that locks are already down, and lender activity is slowing, whether due to refi burnout, the season, or the move in rates. At least the OCC tells us that residential mortgage performance has improved . Is your…(read more)

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Source: Mortgage News Daily