Mike Tullio's (blueskyeguy) Blog

Mortgage and Lending - Guaranteed Rate NMLS# 2611 - NMLS #208860
It was New Year's Day 1986 that I decided to give up potato chips.  Don't ask why.  I think I weighed about a buck thirty at the time, so it wasn't about shedding pounds.  I guess it was about discipline.  I figured if I gave up something I really liked, I could learn to do that with other things...
When I was a little kid, I used to have a slight video game addiction.  Not that I was any good, but if things weren't going my way trying to get to the next level of a game, I'd just hit the RESET button.  Problem solved.  Well, I still wasn't any good, but that's another problem all together.  ...
 We're finishing 2007 on a positive note as mortgage-backed bond prices have ridden the UP escalator the past 3 sessions (+9 bps today) and interest rates are loving it.  With a few of my lenders, rates have dipped into the high 5% range.  If you look back at my past few blog entries, I had a fee...
 What goes down must come up!  OK, so maybe the housing market still has a way to go before the media proclaims a full recovery, but for the day, rates have taken a turn for the better.  The FNMA 5.5% Bond is up a whopping 50 basis points and that is a huge bounce off the lows from Wednesday.  Wh...
 Mortgage-backed bonds have finally hit the brakes on their recent skid and the FNMA 5.5% bond is sitting at +34 bps right now.  With some serious instability in the markets (DOW is down 150 pts.) and the horrible events that unfolded this morning in Pakistan, money is on a flight to safety.  I t...
Interest rates are eating a healthy portion of leftovers from the main course we had earlier in the week: a bunch of goose eggs and a lame duck.  With no good news to feed off and a stock market that's trying to make a comeback, mortgage-backed securities are currently down 16 bps, and 125 bps in...
Monday morning and mortgage-backed bonds must have missed their cup of coffee as they are drooping miserably down 22 bps.  The bond sell-off continues and we are resting on an important floor of resistance called the 50-day moving average.  This puts rates in the 6.25-6.375% range for the day.  T...
It's 2:45 EST and the bond market is getting whacked harder than a pinata at a 4-year old's birthday party.  Since my blog posting this morning, the Fannie Mae mortgage-backed securities fallen even farther down the rabbit hole and the currently stand at -50 bps.  That's a hefty loss.  Turns out ...
  A big economic number was released this morning called the PCE (Personal Consumptions Expenditures).  It basically measures how much the average consumer is spending and believe it or not, wallets and purses are coming out more than ever.  The number was expected to come in at 2.0%, but it exce...
Did anyone see where my 5% interest rate went?The mystery of what controls interest rates rivals the Bermuda Triangle and why women like shoes so much.  It's funny to listen to "industry experts" talk about the 10-year T-Note being a leading indicator of which way rates will head on a daily basis...

Mike Tullio

VP of Mortgage Lending
local_phone(941) 907-2677
smartphone(941) 228-1020
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