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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: orkrious who wrote (24718)1/14/2005 6:30:57 PM
From: russwinter  Read Replies (1) of 110194
 
Loan fundings in Dec were solid for CFC, but the term to glean here is "fundings".
marketwatch.com

Maybe someone in the biz like Tom can explain the timing of that, but you had a real high refi index in Nov, so maybe those were booked, but actually funded with a lag into Dec. Plus we don't exactly know the dates CFC uses here, because conditions changed rapidly and are changing during this period:

MBAA refi index:these are seasonal adjusted too:
11-3 2304
11-10 2149
11-17 2375
11-24 2179

then bump:
12-1 1912
12-8 (my date again) 1891
12-15 1852
12-22 1958

then another bump, no wonder the Wizards had the foreign CBs come in to manipulate and buy $3 billion a week in agencies during this period:
12-29 1804
1-5 1701
1-12 1721

So I figure if this continues (*), no more numbers games to play (for all these institutions) when January operational numbers are reported about mid-Feb.

(*) There goes the easy 1 and 3 year ARMs, bye, bye:
gcm.com

There goes a portion of the cheap interest only LIBOR gotsa trapped now loans, 2.5% in mid-Nov, 2.9% now, hit six month LIBOR:
bankrate.com
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