Friday’s Fish Wrap

And another one bites the dust ….!!!  It seems we are having the opportunity to singthis song over and over again lately.  Doesn’t it kind of remind you of listening to a top 10 AM station back in the day and they would play this real cool new song so many times that you would learn to hate it forever?  Today’s victims once again is the consumer – the lender to make the headlines in LoanCity.  A fairly large privately owned wholesale lender that dealt largely in A (prime) paper.  They announced that they have ceased funding loans and are left with a pending pipeline of 1200 applicants and almost $350,000,000 in volume!

The market was essentially flat most of the day and turned sour on us this afternoon. Overall the MBS were off 12 bp for the day and we will most likely see a small uptick in interest rates at the opening on Monday.

Overall, activity in the 680 corridor/ east bay market remains steady.  Houses that are listed and priced properly get good activity and even multiple offers.  Houses that are listed and priced at unreasonable levels enjoy a long stay in the available inventory list!

While the weekend weather is not predicted to be perfect it is supposed to stay dry!  So make it a go do it weekend, get outside, do something fun, and then we can all get back to serious “stuff” on Monday.  Have a great weekend!