: A Bad Bad Week In The Mortgage World

Before I leave for my big 3 day weekend, I need to review this awful week.Rates are up, loan products are costing more or disappearing and it is cold!I had spent the weekend biking in Central Park, but am packing my down coat to board the plane.It is very windy where I am going.Expect rates to creep up a little more next week.The banks are feeling the effects of bulging mortgage warehouse lines (they cannot sell their loans to Wall Street), economic factors will not be so positive and who can guess about unemployment figures coming out tomorrow.Why are they coming out tomorrow?I thought it was a holiday!

Next week, we talk about how the average guy is going to get screwed by the banks, Standard Life offering Buy to Let Mortgages in the UK and PMI.MY office is open and my Blackberry is always with me.

Have a great weekend!

– Dale Siegel

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