And the New Year is Officially Underway

Hope everyone had a great New Year celebration!

For Texas lenders such as myself, it is definitely going to be a challenging year with all these rules and regulations that have come out and others that are still in the works.

Mortgage bonds are up 41 bps this morning and are kicking some serious butt! Rates should improve today a little bit, and that’s great because the past month we’ve been on a downhill spiral.

The Pending Home Sales report came out this morning and it was down 16%. This was mainly because buyers were waiting on the final word on the tax credit extension, and since it was extended, we should see an increase in the next report, or at least that’s what I’m personally expecting.

I’d float any new transactions at the moment, but prepare to switch gears if anything pops up.

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Tags: 2010, mortgage bonds, new year | Category: Mortgage Insights |