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Mar 30, 2020
12:05
:01
am
conetah
All-American
Over probably 1-3 months I’d agree.
Sooner than that, lots of volatility.
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conetah
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conetah
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Feb 27, 2011
Last login
Apr 28, 2024
Total posts
21,167 (2,833 FO)
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Messages
Author
Time
10 year treasury back down - right now it's at .66% Plus, the Fed bought $183B of mortgages last week and is still
HarlemCoug
Truly Addicted User
3/29/20 9:35pm
Nope....see below...rates aren’t going down.
cougsrule
3/29/20 9:36pm
I hope they go down.
Superman21
3/29/20 9:39pm
They aren’t going to go lower in the short term. It will destroy the mortgage industry.
cougsrule
3/29/20 9:39pm
They are going down and that's the problem for some lenders. Some are getting crushed on their hedges. But with rates
HarlemCoug
3/29/20 9:39pm
It won’t happen. Investors and lenders will go broke and destroy the liquidity of the housing industry.
cougsrule
3/29/20 9:41pm
plenty of lenders are fine.. and their spreads are wide right now and the Fed is buying everything up... the healthy
HarlemCoug
3/29/20 9:43pm
They are not fine. If they think they are fine they are ignoring the industry wide issue. All lenders are at risk.
cougsrule
3/29/20 9:48pm
Plenty are fine.
kimdaddy35
3/29/20 9:52pm
Had a huge meeting Friday about this. They aren’t as well off as you think.
cougsrule
3/29/20 9:54pm
edit - Do you think Chase and B of A are in trouble and won't be issuing mortgages even though they know the Fed will
HarlemCoug
3/29/20 10:03pm
Don’t know about b of a or chases liquidity situation but the main problem could
conetah
3/30/20 12:31am
I am absolutely worried... The market intervention is unprecedented.
conetah
3/30/20 12:23am
Some are already in big trouble. Jumbo loans getting cancelled left and right.
kimdaddy35
3/29/20 9:47pm
Chase and BofA are already experiencing issues.
cougsrule
3/29/20 9:50pm
Are the jumbos getting canceled because the rate that was locked is lower than
Manti
3/29/20 10:05pm
No, banks are no longer able to back them as they are worried
kimdaddy35
3/29/20 10:34pm
There isn’t a market for them at all in the secondary market.
conetah
3/30/20 12:26am
Our company cancelled no less than 50 jumbo loans.
conetah
3/30/20 12:25am
Yes as I said the smaller guys are struggling. But the big guys will buy them
kimdaddy35
3/30/20 12:55am
Big guys too are struggling
conetah
3/30/20 7:49am
Over probably 1-3 months I’d agree.
conetah
3/30/20 12:05am
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