During my recent studies in college, I read about the FOMC and how they publish their meeting notes three weeks after the meetings close. The particular text, stated that it would be a good idea to read the minutes of said meetings and note what topics they key in on during their meetings. Do you think that this would be useful for MLOs to make some sort of educated prediction as to what may happen with monetary policy and the rates associated with borrowing funds?
Not really…You would be better to subscribe to a service that does this for you such as MBS Highway or MBS Authority or follow someone like Dan Rawitch on Facebook. Yes, the thirst for knowledge should be there and understanding what moves the markets is highly important. But, you are not a bond trader and unless you are working in the Secondary Market, let others do the legwork and you focus on being the best LO who knows the most people, procures the most referrals, gives the best advice and closes the most loans.
Ok, that makes plenty of sense. Thank you for taking the time to give your insight and expert opinion! With the large difference in pricing between the MBS Highway and MBS Authority, is it a “you get what you pay for scenario?” In the past, I have used different subscriptions for stock-related trading and investing and the prices definitely affected the quality content.