Page 3 - Jeff Schaefer News Today

Raquel Welch, who passed away yesterday, was an icon in the 60s and 70s. Mick Jagger was as well, and sang, “Just My Imagination” many years ago. But it is not your imagination that residential lending is facing some renewed speedbumps. (Yeah, I know that’s a stretch, but it’s a cool song.) Last night in Spokane at the SMLA meeting, key topics including pricing and rates. It isn’t your imagination that lenders are rolling out the new conforming loan level price...

A friend out in California asked me how much, on average, I spend on a bottle of wine. I replied, “About half an hour.” Plenty of wine is being consumed while watching Yellowstone and 1923, and while all the women are ogling Spencer Dutton in 1923, in some non-mortgage news to save the economy the Secretary of Homeland Security will announce next month that the Immigration and Customs Enforcement will start deporting seniors (instead of illegals) to lower Social Security and Medica...

With the Fed set to end its MBS purchases tomorrow, removing free money from the MBS market, where do you think home affordability will go from here? Mortgage rates are already at their highest levels since 2008 and in theory, a large buyer exiting the space should push MBS prices down and thus mortgage rates up. As one California mortgage executive wrote to me, “Home prices ran up 20 to 30 percent for two years, as Fed Chair Powell could not figure how to get his foot off the accelerator...

Singer/actress Olivia Newton John AND author David McCullough, both dying to start the week? (I just finished “Mornings on Horseback.”) After I die, I want my remains to be spread over Disneyland in Southern California. But I don’t want to be cremated. (Think about it.) Brokers know that also involving Southern California is today’s loanDepot earnings call at 2PM PT. “LD” has made some very public pronouncements of cutbacks in recent months… Will ...

Back for the ninth season at 1390 Granite City Sports with your weekly amateur baseball (Town Team) reports. Including game summaries, upcoming schedules, league standings, tournament summaries and an occasional special interest feature. The plan is to continue to include: Arrowhead West/Section 2B: Cold Spring Springers, Moorhead Brewers, Moorhead Mudcats, Hamel Hawks, EGF Mass and Brainerd Bees, Central Valley League, Sauk Valley League, Victory League South and Stearns County, New London-Spic...

While we await FEMA to declare the Yellowstone area a disaster (page down and spend 40 seconds watching the video) is “niches to riches” the new informal slogan of loan officers? LOs are certainly watching how higher interest rates have already impacted American homeownership as rising mortgage rates and house prices reduce buyer affordability. At the other ends of the loan process, making the rounds, which capital markets staff say is causing confusion, via ZeroHedge is a blog pos...

Back for the ninth season at 1390 Granite City Sports with your weekly amateur baseball (Town Team) reports. Including game summaries, upcoming schedules, league standings, tournament summaries and an occasional special interest feature. The plan is to continue to include: Arrowhead West/Section 2B: Cold Spring Springers, Moorhead Brewers, Moorhead Mudcats, Hamel Hawks, EGF Mass and Brainerd Bees, Central Valley League, Sauk Valley League, Victory League South and Stearns County, New London-Spic...

Back for the ninth season at 1390 Granite City Sports with your weekly amateur baseball (Town Team) reports. Including game summaries, upcoming schedules, league standings, tournament summaries and an occasional special interest feature. The plan is to continue to include: Arrowhead West/Section 2B: Cold Spring Springers, Moorhead Brewers, Moorhead Mudcats, Hamel Hawks, EGF Mass and Brainerd Bees, Central Valley League, Sauk Valley League, Victory League South and Stearns County, New London-Spic...

Back for the ninth season at 1390 Granite City Sports with your weekly amateur baseball (Town Team) reports. Including game summaries, upcoming schedules, league standings, tournament summaries and an occasional special interest feature. The plan is to continue to include: Arrowhead West/Section 2B: Cold Spring Springers, Moorhead Brewers, Moorhead Mudcats, Hamel Hawks, EGF Mass and Brainerd Bees, Central Valley League, Sauk Valley League, Victory League South and Stearns County, New London-Spic...

I knew it was going to be a rough morning today when my alarm went off and I found my cat Myrtle staring at the computer screen watching Social D’s “Don’t Drag Me Down.” (Excuse the language.) There was this email: “Rob, I’m thinking about leaving my company because it doesn’t offer 180- or 270-day rate locks. What do you think? We have trouble competing even with shorter term pricing. My current employer is allowing me to lock in a 60-day rate at...