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Response to Ferd Berfel (Original post)

Sun Dec 27, 2015, 12:27 PM

1. The last thing we want is a politician trying to run the Federal Reserve.

Neither repub or Dem should be telling the Federal reserve board what to do. People like Bernie and his cohorts who don't know shit about it and hate anyone with more than they have should keep their damn hands off!.


The rate hike of an quarter point hasn't effected mortgage rates at all

by: Matthew Graham
Mortgage Rates Slightly Lower Ahead of Holiday Week

Dec 18 2015, 4:44PM

Mortgage rates maintained their paradoxical descent following this week's Fed rate hike. The paradox can be accounted-for in several ways, but the easiest is to say that bond markets (which dictate mortgage rates) were erring on the side of caution leading up to the Fed announcement. Even though the hike was a given, the trading environment following the hike was not. Bonds were prepared for that environment to be more difficult than it has proven to be, and thus rates have managed to come back down to some extent.

The movement over the past 3 days is far from extreme. Most lenders continue quoting conventional 30yr fixed rates in a range from 4.0 to 4.125% with the improvements seen in the form of slightly lower closing costs. Next Friday is Christmas and bond markets will be closed for the weekend beginning Thursday afternoon (earlier than normal). Most of the personnel effort at mortgage companies will be directed toward closing loans that need to close this month. Staffing can be lighter, turn times can be longer, and rate sheets tend to be more conservative than they otherwise would be. Risk and reward are both lower than normal when it comes to locking/floating.

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Ferd Berfel Dec 2015 OP
LineNew Reply The last thing we want is a politician trying to run the Federal Reserve.
upaloopa Dec 2015 #1
SCantiGOP Dec 2015 #2
Ferd Berfel Dec 2015 #3
ljm2002 Dec 2015 #4
Ferd Berfel Dec 2015 #5
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