horncyclist

We're 1-2 weeks behind on every decision. There will be quarantines ordered in a week, weeks later than we should have. It's this constant delayed reaction that will make it as bad or worse than Italy and Wuhan.

Feeling sick I failed to lock the 3.625 30-year fixed when it was offered but it seems like the rates have to come back down. This article says that basically banks were overwhelmed by demand, having trouble processing loans and funding them when rates dropped to the historic lows, so they raised rates to meter demand. That makes sense. But if accurate, they should come down gradually again once things settle down. It's reasonable to expect similarly low rates in a month or two, no? https://www.marketwatch.com/story/mortgage-rates-increased-this-week-despite-the-coronavirus-turmoil-heres-why-you-havent-missed-the-chance-to-refinance-2020-03-12

It still seems like we're several steps behind what we need to be doing. We need to be building temporary hospitals and figuring out how to rapidly increase production and availability of ventilators. Like a war-time effort. I'm not sure we're doing either.

With the limited testing, you have to think actual numbers are many times this. Hospital bed crisis will be here in a week.

We need to be building hospitals and coordinating the medical response. The incompetency at a national level on this is insane.

There was some hope with seemingly limted spread in the southern hemisphere. Probably just that there's a much greater exchange of people in the north and delayed testing. We're fucked for at least a year. This is going to have the impact of a world war.

I feel like shit just got turned up to 11 today. It was inevitable but wild to be here. Next week is going to be rough...we're still reacting way to slow. We're going to be Italy in a week.

My federal agency employer went to full time telework today...billed under a "liberal telework policy" but we were encouraged to telework unless coming into the office is absolutely necessary. Im guessing mandatory is coming soon. What's scary is where does this end. This isn't going away anytime soon. Even shutting everything down.

So I just had a lender go from quoting me 3.625 on a 30 year conforming cashing out $100k on 2/28 to quoting me 4.875 today. Is that the kind of jump you're seeing? Our current rate is 4.375 so we'll just hold off on the plans for the cash if rates have skyrocketed. It seems like they'll have to settle down some and with the prime rate and 10-year low, you'd think that would be near the lows. Also, can you do a loan in Virginia?

Fuck. Is the refinance window closed? At banks basically tightening becuase of economic uncertainty?

I have a trip to Mexico City booked next week for work plus two days personal. Am I crazy to want to go still? Figure its safer there than in DC, so it's just flying on the plane.

It spread so damn fast in Italy. Pretty sure that will be many US regions within a week or two.

This thing seems really fucking contagious: Most cases linked to the meeting, which was attended by about 175 people, are in Massachusetts. State health officials said Monday that 32 of the 41 infected patients in the state were either Biogen employees or close contacts of employees. Two people in Indiana, five people in North Carolina and one person in New Jersey tested positive with coronavirus after attending the meeting. Biogen has since informed all attendees to quarantine themselves and symptomatic employees to alert public health officials, the company said in a statement emailed to The Washington Post. “We recognize that this is a difficult situation for our colleagues and their loved ones,” the drugmaker wrote. “We are actively working with all relevant departments of public health and hospitals to prioritize the well-being of the people who may have been exposed to COVID-19.” https://www.washingtonpost.com/world/2020/03/09/coronavirus-live-updates/#link-J6OHSEP2AJELJMSDXTI4RMEY3E Unclear how many of the 32 in Massachussets were there, but it seems like a quarter of the people catching something from one conference is bad. It's supposed to be less contagious than the flu. Does the flu transmit like that?

Is that because the news about the rates is causing people with worse credit to apply so the average rates go up? They have to come down some more, right? Catching up with the 10-year?

Health care being such a mess, you're going to have a lot of people toughing it out, going to work and crowded events. We may be one of the least equipped countries to deal with this. Just look at the testing failures.

10 year yield at .75. Maybe bank pays me for mortgage? Planning to wait at least until early next week lock on the refi.

Embarassing but not at all surprising. We seem to be handling this as poorly as possible--late with travel restrictions, botched quarantines, no testing, mixed communication on seriousness. We're going to get hit harder and more quickly because of it.

10-year dropped down again this morning. Have the mortgage rates caught up yet? It seems like they lag a little. I found this website, which updates average rates daily. http://www.mortgagenewsdaily.com/mortgage_rates/daily.aspx It seems like mortgage rates are not coming down as much as the 10-year. Also, on getting the best rate, is it worth shopping around to a few different lenders or is it competitive enough, that you're likely to get the same from whoever? I had talked to the lender that did our mortgage when we purchased last week, just reached out to two others this morning. Appreciate any advice on how to navigate that.

Today a good day to lock? Soon?

CDC estimated the death rate at 3.4% but said its not as contagious as the seasonal flu. Both of those were a little surprising to me. It'd be great if the spread is limit to local outbreaks but the Wuhan example and lengths the Chinese had to go to contain it plus the rapid spread in Iran make it seems like it's more viral.

Stupid question...only second time looking at mortgage. If you lock and rates continue to follow in between locking and closing, can you take advantage of the new lower rates? If so, seems like a no brainer to lock soon.

Voted for Elizabeth Warren. Hard to not think about what might have been. Here's hoping that Biden and/or Bernie don't fuck this up and Liz keeps her influence. We desperately need her structural reforms.

Werr probably doing a mortgage refi this week. From 4.375 should save a bunch. Does the surly wisdom say rates have hit bottom? I would try to lock rates today but my wife had a surprise medical bill collection pop up last month that will disappear this week. With the markets and 10 year stabilizing, do we expect mortgage rates to creep back up?

I'll be voting for Elizabeth Warren this morning. She's the most qualified of the bunch and has a vision for where we need to go. I think, if nominated, she would win and she would be great. Absent Bernie having a heart attach again, she probably has no chance, but I'll feel good about my vote.

Why would the MTA shut down only be 2 weeks? I'm anticipating teleworking for months.