November 23rd, 2007 10:27 AM

Check in regularly on Mortgage Blog for opinion and commentary on the industry and markets.  Click here to donate to One Hour For Education and help children obtain school uniforms--all that is asked is you to take a few minutes to donate one hour's pay or compensation to help those in need.  Thank you.

 

 

Hope your Thanksgiving was a wonderful as mine. My favorite holiday for many reasons, we give thanks for who we have in our lives, it is a celebration of the genesis of the American spirit that has carried on for three and a half centuries, we celebrate with family and friends, and I get to use all my amatuer culinary talents to put together a fun and tasty feast! 

 

Although our industry is taking it on the chin this Thanksgiving I am still very thankful for the career I have chosen and opportunities over the years to help hundreds of families know the joys of homeownership and to participate in part of the American Dream.  I look forward to the coming year and helping more families and others in the industry to navigate through the turbulent markets and find the best mortgage solutions for their needs.

 

With light trading on Wall Street any trades have big impact so we have seen big swings once again through the week in bonds.  Way down on Tuesday, way up on Wednesday and mixed today as the stock markets go up.  Result is yet another week of no change, yay!  We love stability.  As we move into the end of the year the reporting of troubles with capitalization for Freddie Mac and accounting issues at Fannie Mae may lead to more tightening--or government intervention for the two. 

 

As I said no change for the week on fixed rates, below are for fixed rates, full document, purchase transactions with FICOs of 720 or higher for purchases:

 

30 year conventional at 1 point 5.875%

30 year jumbo at 1 point 6.625%

 

 

Dennis

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