Today I sit down with Logan Motishami of AMC lending. We talk about a topic that just about everyone can connect to, residential real estate and home prices.

I've been following Logan's work for many years.

This touches on a lot of the topics we cover here at Real Vision, specifically Macro and the

Recession Watch. This piece I think is both highly analytic. specifically Macro and the Recession and the Recession.

This piece I think is both highly analytic

and also personal and pragmatic.

Stay tuned. Logan Motoshme, Senior Loan Officer at AMC Lending, contributor to Housing Wire, Housing

Blogger. Welcome to Real Vision. My pleasure to be here.

We've been trying to connect now for years, right?

I mean, yeah.

You're in Southern California, I'm here in New York, and now through the magic of virtualization and social isolation.

Here we are connected having this remote interview.

You've been writing about the mortgage market meltdown.

Where are we right now?

How do we get here?

What's going on?

Well, we're kind of still in the chaotic stage right now.

You know, when March 9th came in and the 10 year yield got down to about 32 basis points and mortgage rates fell with it.

The first thing that came to my mind is early payoff risk, which means that refinances would accelerate it would cost the industry a lot of money

because you know if you're providing a good example is if you're giving ten thousand

dollars to give somebody an interest rate, you need to keep that loan on the

books for at least 18 months to break even or make money.

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