The Chicago 77

29 Oct 2010 – The past week once again gave me pause as to the duality of my job. Pricing for Fannie Mae and Freddie Mac mortgage loans increased slightly over the prior week. For that, I shed a tear, since this can put some drag on the very robust refinance market. This movement, however, [...]

22 October 2010 –As I began writing this week’s commentary, I realized I had exhausted my analogies for the ebb and flow of rates we have seen over the past months. That is until I thought back over the years to my Junior Year at West Point standing in a platform above a Long Island [...]

15 October 2010 – The cost of mortgages took a minor beating this week after several days of favorable movement. You will notice that I refer to cost as opposed to rate. This is because rates moved little if at all, but rather the points required to secure the best rates increased and available surplus [...]

08 October 2010 – October surely has started out with a bang. This not the bang that you get when you light a firecracker and sit with anticipation of the inevitable glorious explosion. No, this is more like the unexpected bang that you get when someone secretly lights a firecracker under your chair. In short, [...]

01 October 2010 – For a week chock full of economic data, the trends this week generally matched those of the previous weeks. Early in the week, low numbers for consumer confidence brought rates to near record lows again for a short time, but this passed and positive news on consumer spending and unemployment numbers. [...]