Santos's Blog

Mortgage and Lending - FAMILY HOME LOANS
The Mortgage World Updates.....



THE ELASTIC WAISTLINE PANTS ARE READY FOR TOMORROW!!!Volatility continues in the Bond Market.  Currently, bonds are up a whopping +38 basis points so we're enjoying this news.  As of today, we are offering 30-year fixed at 6.375% with NO points and we will advise to "float" your interest rate to ...
LOCK 'EM IF YOU GOT 'EM!Welcome to our roller coaster ride!  Yesterday's update ended with a "floating" stance because bonds closed out the day at +25, of course, we thought rates would get better.  Right out the gate this morning, bonds opened up at roughly -22 basis points so they ...
  2 MORE FULL DAYS BEFORE THE BIG 'STUFF YOURSELF TILL YOU CAN'T STUFF NO MORE' DAY!I, for one, will be hitting the gym extra hard this week in anticipation of Thursday's feast!  Is it bad when you're working out and you're thinking of what you're going to eat later on that day?  hahahah :)  OK.....
TGIF!!!!!Well, it's the Friday before the Thanksgiving holiday so I think I can officially turn my holiday lights on outside :)  Oh you just KNOW I had them up last weekend!  I just thought it was a little early for me to turn them on.....but now....I'm good! :)Closing out the work week.....On th...
GOOD THURSDAY AFTERNOON!!!ONE MORE WEEK TILL THANKSGIVING?!?!?!?!??  How this year is flying by! I hope everyone is having a FANTASTIC day.  Yesterday's temperature was a beautiful 55'ish...and today is a cold, rainy, snowy mix at 30 degrees.  WELCOME TO MICHIGAN!Mortgage Bonds are trading higher...
TGIF!!!!Surprise, surprise...more sub-prime mortgage related losses are hitting the financial sector this morning.  Stocks are trading lower and Bonds are trading slightly higher after Wachovia Corp announced a loss of $1.1 Billion in the value of their Collateralized Debt Obligations (CDO's).  C...
HAPPY THURSDAY AFTERNOON!!!  Fed Chairman Ben Bernanke is testified this morning before the Congressional Joint Economic Committee on the U.S. economic outlook and bonds took a little bit of a hit.  We started the morning at +9 basis points and it looks like we'll close the day out at -3 basis po...
GOOD Hump Day TO ALL! Bonds are closing out today flat, currently at ZERO, so there wasn't a change in mortgage rates today.  Stocks were punished this morning.  Leading the way down was a nasty earnings report from General Motors (GM), who announced a shocking third quarter loss of $39 Billion, ...
RATE INCREASE!  We expected rates to increase from yesterday's rate sheets following the stock market's rebound late in the day.  Again, stocks and bonds compete against each other so, typically, when one is having a good day, the other suffers.  WHAT'S GOING ON.....This morning, there are no eco...
GOOD MONDAY AFTERNOON, everyone!As we're heading for the close of the day, mortgage bonds are taking a hit.  Currently down -22 basis points so we may see lenders send a late-day, intraday rate increase.  If not tonight, it may spill into tomorrow's rate sheets.  WHAT'S GOING ON....More bad news ...

Santos Sanchez

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