There is no better time of year than right now and no greater sporting event than the NHL playoffs.
While I did not grow up a Sabres fan, my first hockey sweater was a Sabres sweater. The NHL, like most sports, is better when small-market teams are competitive. The Sabres have not been relevant or made the playoffs since 2007, but they started slow this year and have been one of the best teams in the league since about November.
Last Friday night they took down the Bruins, an Original Six team. Pretty incredible.
If you are not watching, you should catch at least a game. They are young, fast, and physical. A great watch. It would be awesome to see them make a deep run for the Cup. TV ratings may not love it, but hockey fans would.
Go Sabres!
A Quick Reminder
Quick reminder that closing loans quickly is absolutely something we can accommodate.
Our platform and team are well equipped to handle fast closings. In fact, we enjoy them. We had a deal in April that closed in two weeks. USAA had preapproved the client and then, after the contract was ratified, decided not to approve the loan. That is a story for another day.
We stepped in, picked up the pieces, and got the deal closed in two weeks.
One of the benefits of being part of a bank that has an appetite for common-sense lending, and that services loans which do not always fit perfectly into the secondary market box, is that we can close deals that make sense.
Market Notes
At the risk of sounding like a broken record, this was another week where the market took its cues from headlines surrounding the conflict with Iran.
Generally, news that suggests the end may be near is positive for rates. Less favorable news tends to push rates higher.
If you do not follow the trading of mortgage-backed securities, the next best indicator is oil prices. When oil prices rise, rates tend to rise as well, and vice versa.
This coming week brings more meaningful economic data, including the non-farm payroll report, which will be released this Friday. While that data could move the market, oil prices and geopolitical developments remain top of mind for traders.
Until we see some resolution there, we are likely to remain in this pattern.
Looking Ahead*
Enjoy a great week, and as always, please feel free to call with any mortgage related questions or needs. Happy to help.
-Steve-
*All loans are subject to credit approval and program guidelines.