Comments on: Mortgage Refinancings Soar http://www.ritholtz.com/blog/2008/12/mortgage-refinancings-soar/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 11:00:47 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Mark E Hoffer http://www.ritholtz.com/blog/2008/12/mortgage-refinancings-soar/comment-page-1/#comment-130743 Mark E Hoffer Thu, 04 Dec 2008 21:04:01 +0000 http://www.ritholtz.com/blog/?p=11838#comment-130743 these # of applications reports are a total waste of time..it's so similiarto reporting 'foot-traffic' at the mallz.. when total U$D lending amounts pick up, it'll be time to pay attention, til then, if the Top gets any more Spin, it'll turn into an auger.. these # of applications reports are a total waste of time..it’s so similiarto reporting ‘foot-traffic’ at the mallz..

when total U$D lending amounts pick up, it’ll be time to pay attention, til then, if the Top gets any more Spin, it’ll turn into an auger..

]]> By: Juliius http://www.ritholtz.com/blog/2008/12/mortgage-refinancings-soar/comment-page-1/#comment-130608 Juliius Thu, 04 Dec 2008 15:59:51 +0000 http://www.ritholtz.com/blog/?p=11838#comment-130608 "...the gap between applications and approvals was widening..." seriously understates the matter. As rates plummeted last week - of course applications rose to all-time levels however, qualified applications are another matter and approvals yet another. It is a total misnomer to state "Mortgage Refinancings Soar" - the truth of the matter is that mortgage applications rose - lenders haven't changed any of their standards/requirements - it is every bit as difficult to get a loan this week as it was last week... “…the gap between applications and approvals was widening…” seriously understates the matter. As rates plummeted last week – of course applications rose to all-time levels however, qualified applications are another matter and approvals yet another. It is a total misnomer to state “Mortgage Refinancings Soar” – the truth of the matter is that mortgage applications rose – lenders haven’t changed any of their standards/requirements – it is every bit as difficult to get a loan this week as it was last week…

]]> By: dbmd http://www.ritholtz.com/blog/2008/12/mortgage-refinancings-soar/comment-page-1/#comment-130607 dbmd Thu, 04 Dec 2008 15:55:53 +0000 http://www.ritholtz.com/blog/?p=11838#comment-130607 jmborchers Says: December 4th, 2008 at 10:24 am The biggest stock market ralley of all times has just begun. I have no doubt about it. -- please elaborate. i would not want to miss "the biggest stock market ralley of all times." and i assume that you must be right on your prediction since no one here has called you out. thanks. jmborchers Says:
December 4th, 2008 at 10:24 am

The biggest stock market ralley of all times has just begun. I have no doubt about it.

–
please elaborate. i would not want to miss “the biggest stock market ralley of all times.”
and i assume that you must be right on your prediction since no one here has called you out. thanks.

]]> By: jerrya1 http://www.ritholtz.com/blog/2008/12/mortgage-refinancings-soar/comment-page-1/#comment-130599 jerrya1 Thu, 04 Dec 2008 15:26:33 +0000 http://www.ritholtz.com/blog/?p=11838#comment-130599 Live in a homesteaded property in South Florida and have a very high FICO score. Tries to refi and was told to bring $25K to the table if I want to refi otherwise told to stick it by the bank. This is the reality. I'd like to see a program that allowed me to sell at a losspay my loan balance off and deduct this loss from my taxes in 1-3 years as opposed to the ridiculous $3K per year. My 60k loss would take years to recover otherwise. Perhaps I should just charter a bank and apply for TARP funds. Live in a homesteaded property in South Florida and have a very high FICO score. Tries to refi and was told to bring $25K to the table if I want to refi otherwise told to stick it by the bank. This is the reality. I’d like to see a program that allowed me to sell at a losspay my loan balance off and deduct this loss from my taxes in 1-3 years as opposed to the ridiculous $3K per year. My 60k loss would take years to recover otherwise. Perhaps I should just charter a bank and apply for TARP funds.

]]> By: jmborchers http://www.ritholtz.com/blog/2008/12/mortgage-refinancings-soar/comment-page-1/#comment-130598 jmborchers Thu, 04 Dec 2008 15:24:27 +0000 http://www.ritholtz.com/blog/?p=11838#comment-130598 The biggest stock market ralley of all times has just begun. I have no doubt about it. The biggest stock market ralley of all times has just begun. I have no doubt about it.

]]> By: Grindstone Financial http://www.ritholtz.com/blog/2008/12/mortgage-refinancings-soar/comment-page-1/#comment-130594 Grindstone Financial Thu, 04 Dec 2008 15:20:21 +0000 http://www.ritholtz.com/blog/?p=11838#comment-130594 There was some commentary to this effect on CNBC yesterday. One of their reporters said that bankers saw a huge number of applications coming from people that already had loans in process. They re-applied in an effort to take advantage of the dip in rates last week. Like most data, the market's mistaken interpretation of a headline created a trading opportunity. There was some commentary to this effect on CNBC yesterday. One of their reporters said that bankers saw a huge number of applications coming from people that already had loans in process. They re-applied in an effort to take advantage of the dip in rates last week.

Like most data, the market’s mistaken interpretation of a headline created a trading opportunity.

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