All Encompassing Mortgage and Real Estate Thread

[UTPhil2006 3773]

14 minutes ago, Beantown Express 2.0 said:

We gave them the engineer report and the lifetime warranty info but they are idiots in my opinion since apparently they really loved my house.  Oh well.

Better to know now than go through option and whatnot and have them waste 3 weeks of your time only to back out 

[Wulaw Horn 18919]

22 minutes ago, Beantown Express 2.0 said:

We gave them the engineer report and the lifetime warranty info but they are idiots in my opinion since apparently they really loved my house.  Oh well.

Yeah- if you have all that then you just got an oddball buyer.  Not super oddball, but I'd bet less than 20% respond like that.  Maybe next time have the agent show them the report and warranty before you actually get under contract so if they are of a mind to bail they would bail then?  I don't know- I bet it's not an issue again...

[Gil Bang 25681]

1 hour ago, Beantown Express 2.0 said:

We gave them the engineer report and the lifetime warranty info but they are idiots in my opinion since apparently they really loved my house.  Oh well.

The buyer's agent should have educated his clients about the likelihood of foundation issues in that neighborhood.   The buyer's agent did a lousy job and as a result, a lot of time was wasted.  Don't be discouraged.

Have you reviewed your agent's MLS listing?  Does it emphasize that repairs are done and a lifetime warranty is included?   It should.  My MLS allows for "confidential remarks" that are only seen by other agents, not by the general public.  That information needs to be in there, so agents with nervous clients can handle it beforehand. 

[Wulaw Horn 18919]

28 minutes ago, Gil Bang said:

The buyer's agent should have educated his clients about the likelihood of foundation issues in that neighborhood.   The buyer's agent did a lousy job and as a result, a lot of time was wasted.  Don't be discouraged.

Have you reviewed your agent's MLS listing?  Does it emphasize that repairs are done and a lifetime warranty is included?   It should.  My MLS allows for "confidential remarks" that are only seen by other agents, not by the general public.  That information needs to be in there, so agents with nervous clients can handle it beforehand. 

This man right here, he knows his trade.  Lots of people think agents are worthless.  Lots of agents might be worthless. Someone that knows their business is valuable in a lot of situations.  

[Gil Bang 25681]

Fucking CA real estate, y'all. 

 

https://www.redfin.com/CA/Carlsbad/2860-Hope-Ave-92008/home/3643056

 

Desirable beach area.  1.5 million for 900 square feet sounds like a lot of money though, right?

Here's the fine print on the listing; shit redfin doesn't tell you.

Sellers wish to sell AS-IS.  Kitchen and Bath have been demo'd out. The electrical and gas meters are removed.  The garage was previously converted to ADU without permits. 

My buyer calls me, excited about this property that she saw on redfin, and I've gotta be the asshole that punches her in the cunt over a deal that she was excited about.  I try to mitigate as best as I can with "that's why I didn't send you this listing" but that only goes so far.  She's got a bad taste in her mouth today and she's associating it with me. 

[Beantown Express 2.0 6528]

1 hour ago, Gil Bang said:

The buyer's agent should have educated his clients about the likelihood of foundation issues in that neighborhood.   The buyer's agent did a lousy job and as a result, a lot of time was wasted.  Don't be discouraged.

Have you reviewed your agent's MLS listing?  Does it emphasize that repairs are done and a lifetime warranty is included?   It should.  My MLS allows for "confidential remarks" that are only seen by other agents, not by the general public.  That information needs to be in there, so agents with nervous clients can handle it beforehand. 

Yeah, my agent said she tried to explain it to their agent but I am guessing their agent sucks at “educating” his clients.  My realtor told their realtor that her own home (she lives in my neighborhood) has 200 piers and is only 3 years old and that my home only had 17 piers and the structural engineer fully backed the work saying the home is totally sound.  She also sent their realtor a conversation from our neighborhood Facebook page that flukishly occurred on Tuesday with people asking about foundation issues and how the builders warranty it.  The first comment was a guy saying, “we have 3 types of homes in this neighborhood, those with foundation issues, those that are going to have foundation issues, or those that had foundation issues and were fixed.  Their realtor didn’t seem to care apparently.  One interesting thing in this whole deal is another home went on the market in my neighborhood Monday and was priced super cheap.  My realtor said these people are going to look at that one also.  I found out that the home was not really lived in and during the big TX Freeze last year the pipes broke and flooded the home and water sat forever since nobody lived in it.  Some people that know that home said its a gut job when you look closely but the pictures on line made it look really nice so I hope these fuckers buy that home and then have tons of repair issues.  I know, I am bitter.

[Gil Bang 25681]

27 minutes ago, Beantown Express 2.0 said:

Yeah, my agent said she tried to explain it to their agent but I am guessing their agent sucks at “educating” his clients.  My realtor told their realtor that her own home (she lives in my neighborhood) has 200 piers and is only 3 years old and that my home only had 17 piers and the structural engineer fully backed the work saying the home is totally sound.  She also sent their realtor a conversation from our neighborhood Facebook page that flukishly occurred on Tuesday with people asking about foundation issues and how the builders warranty it.  The first comment was a guy saying, “we have 3 types of homes in this neighborhood, those with foundation issues, those that are going to have foundation issues, or those that had foundation issues and were fixed.  Their realtor didn’t seem to care apparently.  One interesting thing in this whole deal is another home went on the market in my neighborhood Monday and was priced super cheap.  My realtor said these people are going to look at that one also.  I found out that the home was not really lived in and during the big TX Freeze last year the pipes broke and flooded the home and water sat forever since nobody lived in it.  Some people that know that home said its a gut job when you look closely but the pictures on line made it look really nice so I hope these fuckers buy that home and then have tons of repair issues.  I know, I am bitter.

There is absolutely no reason to get emotional about this.  It's an arm's-length  business transaction.  You are offering a home for sale at price X.  They declined to purchase your home.  Maybe your home is with X, maybe it isn't.  If it is, another buyer will come along. .  Maybe they were correct, maybe they made a mistake.   If you think there's only one buyer for your house, you've got a problem. 

[Gil Bang 25681]

was your foundation work done with building permits?  

If so, perhaps you can pull permit records showing the number of homes in your neighborhood that have done foundation work.   Inform future buyers that it's par for the course

[Wulaw Horn 18919]

20 minutes ago, Gil Bang said:

There is absolutely no reason to get emotional about this.  It's an arm's-length  business transaction.  You are offering a home for sale at price X.  They declined to purchase your home.  Maybe your home is with X, maybe it isn't.  If it is, another buyer will come along. .  Maybe they were correct, maybe they made a mistake.   If you think there's only one buyer for your house, you've got a problem. 

I mean, you act like there is ever a situation where getting spiteful and petty with someone that irritated you is a bad thing and I'd say- how new are you to Surly. I think it's fine for him to wish they buy the other home and get hit with a jillion in repair bills after they wasted his time.  It seems fair and reasonable.  

[Gil Bang 25681]

1 hour ago, Wulaw Horn said:

I mean, you act like there is ever a situation where getting spiteful and petty with someone that irritated you is a bad thing and I'd say- how new are you to Surly. I think it's fine for him to wish they buy the other home and get hit with a jillion in repair bills after they wasted his time.  It seems fair and reasonable.  

I just took another look at this OP.

This is more on the real estate side since I put my house on the market Friday.  Had an offer at list by Sunday but they backed out because 6 years ago we had 17 piers put in the front of our house for some foundation repair

Here's what the timeline sounds like, based on his post;

1) Buyer looked at house

2) Buyer made full-price offer

3) Seller/seller's agent disclose foundation issues

4) Buyer's nopes the fuck out.

 

If that's the way it happened, it's the OP that wasted the buyer's time, not the other way around. The buyer should have been informed of the foundation issue before looking at the house, and certainly before the offer was written.

At the very least, the seller should have copies of the engineer's report and the warranty (and any other relevant information) sitting on the fucking kitchen table with a note that says "Buyer, please take one".

Edited March 30, 2023 by Gil Bang

[Wulaw Horn 18919]

2 hours ago, Gil Bang said:

I just took another look at this OP.

This is more on the real estate side since I put my house on the market Friday.  Had an offer at list by Sunday but they backed out because 6 years ago we had 17 piers put in the front of our house for some foundation repair

Here's what the timeline sounds like, based on his post;

1) Buyer looked at house

2) Buyer made full-price offer

3) Seller/seller's agent disclose foundation issues

4) Buyer's nopes the fuck out.

 

If that's the way it happened, it's the OP that wasted the buyer's time, not the other way around. The buyer should have been informed of the foundation issue before looking at the house, and certainly before the offer was written.

At the very least, the seller should have copies of the engineer's report and the warranty (and any other relevant information) sitting on the fucking kitchen table with a note that says "Buyer, please take one".

But what does that have to do with how

much more fun it is to be petty. 

[TwiceHorn 30851]

2 hours ago, Gil Bang said:

I just took another look at this OP.

This is more on the real estate side since I put my house on the market Friday.  Had an offer at list by Sunday but they backed out because 6 years ago we had 17 piers put in the front of our house for some foundation repair

Here's what the timeline sounds like, based on his post;

1) Buyer looked at house

2) Buyer made full-price offer

3) Seller/seller's agent disclose foundation issues

4) Buyer's nopes the fuck out.

 

If that's the way it happened, it's the OP that wasted the buyer's time, not the other way around. The buyer should have been informed of the foundation issue before looking at the house, and certainly before the offer was written.

At the very least, the seller should have copies of the engineer's report and the warranty (and any other relevant information) sitting on the fucking kitchen table with a note that says "Buyer, please take one".

Texas law requires the Seller's Disclosure to be attached to an offer.  It's not universal, but most realtors post that and associated documents online for the buyer/buyer's agent to get before making an offer.

And yeah if you check the foundation box on the SDN, you had best disclose the foundation repair paperwork.

So, yeah it's a good practice and also legally required.  Buyers were dopey.

[Gil Bang 25681]

27 minutes ago, TwiceHorn said:

Texas law requires the Seller's Disclosure to be attached to an offer.  It's not universal, but most realtors post that and associated documents online for the buyer/buyer's agent to get before making an offer.

And yeah if you check the foundation box on the SDN, you had best disclose the foundation repair paperwork.

So, yeah it's a good practice and also legally required.  Buyers were dopey.

Seller's disclosure, attached to buyer's offer? 

So, buyer made an offer, seller accepted offer, and, when returning signed offer, attached foundation disclosure.   Upon receipt of accepted offer (and disclosure), buyer noped the fuck out.

Show me where my math is wrong.

[Beantown Express 2.0 6528]

No official offer was ever made that I am aware of.  My realtor said their realtor was sending an offer and wanted the sellers disclosure which we gave them along with the pier information, warranty and structural engineer documentation.  They then decided they don’t want a house that had a foundation issue.  My bigger point is all of north texas housing ends up with settling because the houses are built on clay up here versus say limestone in FL which is much more sturdy.  Whatever.  I had two more showings today and one is apparently interested because they are asking us for weird stuff like who is the internet and cable with in your home, a copy of the original floor plans/blueprints, what were our monthly bills for electric, gas, water, etc…Maybe that’s a good sign or maybe not.  I can only hope at this point.  I am also a little perturbed because one of our friends in the neighborhood just let us know they are buying a house on the lake and my wife asked when their home would be going on the market and they said their neighbor who is a realtor asked if they could bring a player by from FC Dallas to look at their home.  He walked in and said he will gut the place so no need to fix it up so they sold it without putting it on the market.  Now I am bitter at them also!

[Gil Bang 25681]

1 hour ago, Beantown Express 2.0 said:

No official offer was ever made that I am aware of.  My realtor said their realtor was sending an offer and wanted the sellers disclosure which we gave them along with the pier information, warranty and structural engineer documentation.  They then decided they don’t want a house that had a foundation issue.  My bigger point is all of north texas housing ends up with settling because the houses are built on clay up here versus say limestone in FL which is much more sturdy.  Whatever.  I had two more showings today and one is apparently interested because they are asking us for weird stuff like who is the internet and cable with in your home, a copy of the original floor plans/blueprints, what were our monthly bills for electric, gas, water, etc…Maybe that’s a good sign or maybe not.  I can only hope at this point.  I am also a little perturbed because one of our friends in the neighborhood just let us know they are buying a house on the lake and my wife asked when their home would be going on the market and they said their neighbor who is a realtor asked if they could bring a player by from FC Dallas to look at their home.  He walked in and said he will gut the place so no need to fix it up so they sold it without putting it on the market.  Now I am bitter at them also!

You said upthread "had an offer at list by Sunday...". In fact, you DID NOT have an offer.  What you had was...you had your agent blowing sunshine up your asshole telling you that a full-price offer was coming your way.  

Get your shit straight.  An offer will be in writing. If your agent isn't a moron, he/she won't present to you unless it comes with a bank statement and a DU pre-approval from somebody like @Wulaw Horn or @UTPhil2006 or another reputable lender.  Some motherfucker "threatening" to write an offer is NOT A MOTHERFUCKING OFFER.   Tell your shitty agent to stop tickling your balls, and you...you need to stop being a drama queen and acting like your prom date didn't pick you up and left you standing in the foyer in your pretty gown. 

And the rest of the post is just dumb.  Your internet and cable provider is googleable, and your electric and water bills have nothing to do with what the next motherfucker's water and electric bills will be. 

Some asshole asks me how much my seller's water bill is, I tell him the number, but I also tell him I can't guarantee what his will be until I watch his wife shower.

 

 

Edited March 30, 2023 by Gil Bang

[Gil Bang 25681]

do I seem like I have a bad attitude?

 

 

 

[Incredulity 11197]

Jesus Christ.

 

Gil fucking Bang’d

[Buzzrock 14785]

I’m in Dallas all week for meetings and due to traffic I drove through the neighborhood that’s west of the tollway and north of Lovers yesterday. Holy shit. Who lives there?

[LCHorn 2564]

11 hours ago, Beantown Express 2.0 said:

No official offer was ever made that I am aware of.  My realtor said their realtor was sending an offer and wanted the sellers disclosure which we gave them along with the pier information, warranty and structural engineer documentation.  They then decided they don’t want a house that had a foundation issue.  My bigger point is all of north texas housing ends up with settling because the houses are built on clay up here versus say limestone in FL which is much more sturdy.  Whatever.  I had two more showings today and one is apparently interested because they are asking us for weird stuff like who is the internet and cable with in your home, a copy of the original floor plans/blueprints, what were our monthly bills for electric, gas, water, etc…Maybe that’s a good sign or maybe not.  I can only hope at this point.  I am also a little perturbed because one of our friends in the neighborhood just let us know they are buying a house on the lake and my wife asked when their home would be going on the market and they said their neighbor who is a realtor asked if they could bring a player by from FC Dallas to look at their home.  He walked in and said he will gut the place so no need to fix it up so they sold it without putting it on the market.  Now I am bitter at them also!

Echoing @Gil Bang, sounds like your realtor isn't great with managing expectations.  Are they new to the industry or did you pick them because they are related to you?

[Beantown Express 2.0 6528]

2 minutes ago, LCHorn said:

Echoing @Gil Bang, sounds like your realtor isn't great with managing expectations.  Are they new to the industry or did you pick them because they are related to you?

Not a relative but she is new.  Got stuck with her because I was using the agency that does all the sales in my neighborhood and had the listing on the house I just purchased and the head of the agency put her with us.  The head of the agency is supposed to be “helping” her but I guess she is not doing a good job with that.

[UTPhil2006 3773]

13 hours ago, TwiceHorn said:

Texas law requires the Seller's Disclosure to be attached to an offer.  

Just wanted to point out this is not correct 

[UTPhil2006 3773]

33 minutes ago, Beantown Express 2.0 said:

Not a relative but she is new.  Got stuck with her because I was using the agency that does all the sales in my neighborhood and had the listing on the house I just purchased and the head of the agency put her with us.  The head of the agency is supposed to be “helping” her but I guess she is not doing a good job with that.

From when we have talked I assume your house is of a decent value. This is not when you want to go with a newbie. She could end up costing you (in multiple ways) tens of thousands 

[Beantown Express 2.0 6528]

16 minutes ago, UTPhil2006 said:

From when we have talked I assume your house is of a decent value. This is not when you want to go with a newbie. She could end up costing you (in multiple ways) tens of thousands 

I’m relying on her boss who is the most experienced in our neighborhood and really successful to be part of this and she has been part of a lot of it so far.

[TwiceHorn 30851]

13 hours ago, Gil Bang said:

Seller's disclosure, attached to buyer's offer? 

So, buyer made an offer, seller accepted offer, and, when returning signed offer, attached foundation disclosure.   Upon receipt of accepted offer (and disclosure), buyer noped the fuck out.

Show me where my math is wrong.

Yep as evidence that the buyer/offeror has seen it. In Texas the offer is an integrated contract that only requires the seller's signature as acceptance of the contract. 

 

Well, apparently utphil is correct, but Texas law does require the SDN be provided to the buyer and it seems smart not to accept an offer without it attached and acknowledged by the buyer.

Edited March 30, 2023 by TwiceHorn

[UTPhil2006 3773]

12 minutes ago, TwiceHorn said:

Yep as evidence that the buyer/offeror has seen it. In Texas the offer is an integrated contract that only requires the seller's signature as acceptance of the contract. 

 

Well, apparently utphil is correct, but Texas law does require the SDN be provided to the buyer and it seems smart not to accept an offer without it attached and acknowledged by the buyer.

Correct. 

[Gil Bang 25681]

2 hours ago, TwiceHorn said:

Yep as evidence that the buyer/offeror has seen it. In Texas the offer is an integrated contract that only requires the seller's signature as acceptance of the contract. 

 

 

Same out here.

[KYHorn 16720]

I've got a lock or float decision to make here in the next 42 minutes. Any strong indicators?

https://www.mortgagenewsdaily.com/mbs says there's a slightly positive outlook.

[Wulaw Horn 18919]

3 minutes ago, KYHorn said:

I've got a lock or float decision to make here in the next 42 minutes. Any strong indicators?

https://www.mortgagenewsdaily.com/mbs says there's a slightly positive outlook.

My guys said lock. They think there is going to be a bad inflation report (not bad but not as good as the market is expecting) this month as opposed to next month when it really turns the corner. 
Again- this isn’t your deal for life in all likelihood. You will be in this 6-18 months I bet. Don’t stress too much. 

[KYHorn 16720]

3 minutes ago, Wulaw Horn said:

My guys said lock. They think there is going to be a bad inflation report (not bad but not as good as the market is expecting) this month as opposed to next month when it really turns the corner. 
Again- this isn’t your deal for life in all likelihood. You will be in this 6-18 months I bet. Don’t stress too much. 

Thanks man. 

Somehow Chase ended up being the best on both rate and closing costs. I just called them on a whim.

[Wulaw Horn 18919]

2 minutes ago, KYHorn said:

Thanks man. 

Somehow Chase ended up being the best on both rate and closing costs. I just called them on a whim.

Hope you have a long time to close. They are the worst from my experience in title working with 100 different lenders over my career. 

[Brew 2917]

On 3/27/2023 at 5:35 PM, UTPhil2006 said:

726 and it’s phenomenal rates 

Hmmm, may PM you to see what phenomenal rates look like.

[KYHorn 16720]

4 minutes ago, Wulaw Horn said:

Hope you have a long time to close. They are the worst from my experience in title working with 100 different lenders over my career. 

60 days, thankfully. I've heard similar, but they were .375 better than everyone else and quite a bit lower in closing costs. 

[Wulaw Horn 18919]

4 minutes ago, KYHorn said:

60 days, thankfully. I've heard similar, but they were .375 better than everyone else and quite a bit lower in closing costs. 

Under those parameters sure, reasonable choice. 

[Jackson P. Neighbors 136]

23 hours ago, Buzzrock said:

I’m in Dallas all week for meetings and due to traffic I drove through the neighborhood that’s west of the tollway and north of Lovers yesterday. Holy shit. Who lives there?

I think that's considered Bluffview. $2-10M homes abound. Younger than Preston Hollow, generational wealth, folks choose private school versus going into HP/UP. Keep going north across NW Hwy and you get into the honey pot. Or stay on Lovers and eat at Celebration or Jose. Can't lose but take your statin if you do Celebration.

[Buzzrock 14785]

22 hours ago, Jackson P. Neighbors said:

I think that's considered Bluffview. $2-10M homes abound. Younger than Preston Hollow, generational wealth, folks choose private school versus going into HP/UP. Keep going north across NW Hwy and you get into the honey pot. Or stay on Lovers and eat at Celebration or Jose. Can't lose but take your statin if you do Celebration.

I’ve been to Jose, good stuff. Coworker recommended Neighborhood Services, and once we found it amidst the construction it was good. 

[Armybrat 40559]

On 3/30/2023 at 10:22 AM, Buzzrock said:

I’m in Dallas all week for meetings and due to traffic I drove through the neighborhood that’s west of the tollway and north of Lovers yesterday. Holy shit. Who lives there?

My late FIL did until he died 40 years ago. We sold his 1,900+ sq.ft. house (3/2) on Glenwick for $85k. 
It was a nice neighborhood then.

[Gil Bang 25681]

Showed 5 coastal properties today to clients that are looking for a second home.  When I dropped them off at their car, they said "thanks a lot Gil; we're gonna go drink about two drinks too many  and figure out what we liked and didn't like".  

They've texted a few times since, and I think that the number was closer to 5 than 2 

 

 

[UTPhil2006 3773]

14 hours ago, Gil Bang said:

Showed 5 coastal properties today to clients that are looking for a second home.  When I dropped them off at their car, they said "thanks a lot Gil; we're gonna go drink about two drinks too many  and figure out what we liked and didn't like".  

They've texted a few times since, and I think that the number was closer to 5 than 2 

 

 

My kind of clients 😂

[Neonmoon 38126]

I had a client purchasing a double wide without a realtor (she wouldn’t accept one as seller told her it would ruin deal). She texted me anywhere from 5 to 25 times a day. I had to act as a realtor, schedule a engineer certification and septic inspection. I paid for the latter. And she still got mad at me at closing because she thought the loan was 3K less even though every single document she ever signed showed the higher number. 

We are all dealing with some shit in this market 

[Gil Bang 25681]

20 hours ago, Gil Bang said:

Showed 5 coastal properties today to clients that are looking for a second home.  When I dropped them off at their car, they said "thanks a lot Gil; we're gonna go drink about two drinks too many  and figure out what we liked and didn't like".  

They've texted a few times since, and I think that the number was closer to 5 than 2 

 

 

Writing a full-price offer for them, 75% down. 

Should be a slam dunk.  We will find out tomorrow.

[Dbeasy 14790]

On 3/30/2023 at 11:22 AM, Beantown Express 2.0 said:

I’m relying on her boss who is the most experienced in our neighborhood and really successful to be part of this and she has been part of a lot of it so far.

I’m going to pile on here. Your agent made a grave mistake in my opinion (I’m an agent).

By not making the seller’s disclosure available in the MLS and in the house during the visit, they set in motion the scenario that occurred.

Now you’ve wasted time that could/should have gone towards getting that quick offer from someone who would/could close. Now your house looks like damaged goods. “Why isn’t it under contract?” say buyers now looking at the house. “well since its been in the market for awhile, let’s put in a low offer.”  Perception is huge. It’s going to cost you money. 

[TwiceHorn 30851]

1 hour ago, Dbeasy said:

I’m going to pile on here. Your agent made a grave mistake in my opinion (I’m an agent).

By not making the seller’s disclosure available in the MLS and in the house during the visit, they set in motion the scenario that occurred.

Now you’ve wasted time that could/should have gone towards getting that quick offer from someone who would/could close. Now your house looks like damaged goods. “Why isn’t it under contract?” say buyers now looking at the house. “well since its been in the market for awhile, let’s put in a low offer.”  Perception is huge. It’s going to cost you money. 

While I agree that not having the SDN in MLS (if that's what happened), along with all relevant foundation and repair docs and warranties is a  mistake, no one will ever know about the "non-offer." 

[Dbeasy 14790]

46 minutes ago, TwiceHorn said:

While I agree that not having the SDN in MLS (if that's what happened), along with all relevant foundation and repair docs and warranties is a  mistake, no one will ever know about the "non-offer." 

The agent is required to update the mls within a day of being under contract. They will see the history on the property listing. 

[TwiceHorn 30851]

18 minutes ago, Dbeasy said:

The agent is required to update the mls within a day of being under contract. They will see the history on the property listing. 

From his post, it wasn't a real offer, it was a "we were gonna offer but   . . . ."

[Gil Bang 25681]

His agent blew a burst of sunshine up his asshole

 

[Dbeasy 14790]

57 minutes ago, TwiceHorn said:

From his post, it wasn't a real offer, it was a "we were gonna offer but   . . . ."

Ah right. Didn’t see that. 

[UTPhil2006 3773]

17 hours ago, Gil Bang said:

Writing a full-price offer for them, 75% down. 

Should be a slam dunk.  We will find out tomorrow.

Like I said my kind of people 🤘🏻🤘🏻🤘🏻

[Wulaw Horn 18919]

Most boring week in the MBS market in 3 years last week. I could do with that again.  Boring on a slow downward title would be awesome for the rest of the year.  

[Gil Bang 25681]

Hey guys, what’s the rate spread on 15 vs 30 these days?

[Wulaw Horn 18919]

18 minutes ago, Gil Bang said:

Hey guys, what’s the rate spread on 15 vs 30 these days?

That's really deal and lender specific man, it's hard to say. I just priced one for you for the heck of it and it came back as little as 1/4 of a point on the spread.  Earlier this year I gave someone on Surly a 4.98 or something like that on a 15 year and the spread was almost a full point vs the 30.  If you want to PM me details I could work out where I think the spread ought to be...