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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (1010)5/9/2003 7:04:00 PM
From: Perspective  Read Replies (1) | Respond to of 4905
 
One of the "costs" of refis is a potential 30-year liability if rates go up, but a 2-year term if rates continue lower. PIMCO's Gross was talking about it - reverse convexity or something...

And of course, they do pay their people to work in those beautiful downtown buildings, not to mention the leases.

BC



To: yard_man who wrote (1010)5/9/2003 7:15:36 PM
From: Wyätt Gwyön  Respond to of 4905
 
what really costs in terms of real resources -- i.e. labor, extra paper??

the title company, appraisal, lawyer fees, origination fees. there's probably at least 2% actual cost that's paid out to the various paper pushers involved, whether it gets wrapped into the loan or paid up front. of course, there's zero economic value, but that's a separate story.


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