Derek McClintock's Blog

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Mortgage and Lending - C2 Financial - NMLS# 331867
RECENT BLOG POSTS
What happened yesterday?   Mortgage backed securities (MBS) lost -64  basis points from Monday's close which caused pricing to worsen (higher mortgage rates). From November 1st's open to yesterday's close, MBS have lost -86 BPS so far this month. Our benchmark FNMA 3.50 November mortgage backed s...
11/06/2013
How will QM/ATR affect your business? (Part 1) Last week we sent you a link of the 22 minute video produced by the Consumber Financial Protection Bureau, to give you some backdrop about what QM and ATR were.  This week let's dig a bit deeper in how it will affect your business.Ability to Repay re...
11/05/2013
What happened yesterday?   Mortgage backed securities (MBS) lost -49 basis points from Wednesday's close which caused 30 year fixed rates to move upward.  MBS have now lost a big -135BPS from Monday's open to yesterday's close. Once again, we started the day selling off before our first dose of e...
08/16/2013
Here is a great blog post by a fellow loan officer about rising interest rates... why they happened and what to do now.  Great read!When interest rates change, they can change quickly. As a reference, see the interest rates tracked from May 3 to our current market. Rates on May 3rd were in the mi...
08/01/2013
What happened yesterday?   Mortgage backed securities (MBS) lost -53 basis points from Tuesday's close which caused 30 year fixed rates to move higher.The benchmark FNMA coupon has now lost -88BPS from Monday's highs.MBS were under pressure right from the first trade as they tanked -34BPS right o...
07/25/2013
Home Prices Jump, Time on Market Falls: The median home price jumped 13.5% from this time last year to $214,200. This marks 16 consecutive months of year-over-year price increases, which last occurred from February 2005 to May 2006. The National Association of Realtors released their Existing Hom...
07/22/2013
Retail Sales Below Target Weaker than expected Retail Sales data helped mortgage rates this week. Soothing comments from Fed Chief Bernanke also were a positive influence, and mortgage rates ended the week lower. The monthly Retail Sales report measures spending by consumers, which accounts for a...
07/19/2013
Bernanke’s prepared text was out at 8:30 this morning (way early) before his 10:00appointment at the House Financial Services Committee. He is saying that the central bank’s asset purchases “are by no means on a preset course” and could be reduced more quickly or expanded as economic conditions w...
07/17/2013
Generally a quiet open this morning. Markets are likely to sit somewhat still through the day today ahead of the beginning of Bernanke’s testimony tomorrow at the House Financial Services Committee; Thursday he moves to the Senate Banking Committee. The obvious topic is what is he thinking now ab...
07/16/2013
This Week; there are a number of key economic releases but the major focus this week is Bernanke testifying in the House and Senate on the economy, employment and inflation. Likely he will field a lot of questions from politicians about what the Fed intends to do with its QEs and more grilling on...
07/15/2013
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Derek McClintock

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