August Sales Guess?

[effenheimer_IHB]

Any projections for August OC sales? I'll toss my penny into that fountain.... 1800 (new plus resale).

 

[awgee_IHB]

To quote Mr. T, when asked his prediction for the fight against Rocky Balboa ...<p>


<b>PAIN</b>

 

[graphrix_IHB]

2000 for August and 1650 for September. Most of the August deals are in escrow with loans that are approved and locked. Most lenders are honoring what they have in the pipeline that are locked but if there is a slight change from the original loan approval like a value change they have to be undrwritten again on the new terms. September will be the fun one to watch for.

 

[IrvineRenter_IHB]

Does anybody track the number of new escrows? This is the number that should fall off a cliff in August.

 

[No_Such_Reality_IHB]

IR, that should show up as a change in pendings.

 

[lendingmaestro_IHB]

unfortunately, brokers don't lock rates until close to signing. Whether out of greed (hoping rates will drop/rebate will increase) or laziness, I'm not sure. The number of refinances and purchases that fell out last week was phenomenal

 

[graphrix_IHB]

Great I forgot that the people I contact are more on the ball. That and they also have direct lending ability with a secondary market team who have some good connections. So their pipeline is pretty set through September with a few bumps coming then and getting worse after that. I would retract my statement but that is too Lereah/Watts like and in September when the stats come out I will just eat crow.

 

[graphrix_IHB]

<p>As of 1:20AM the YEN is at 117.58. All but the Shanghai index are down in the Asian markets. Asian financials are being hit the hardest because of the "asset" backed securities they hold. FTSE and the DAX are both down.</p>

<p>Good news is OIL is down and the U.S. futures are betting for an up swing.</p>