Mortgage Rates Black Friday Surprise
Mortgage rates had a
Black Friday surprise today as we had a huge day for the bond and mortgage
markets. The most prevalently quoted conforming 30yr fixed rates for top
tier borrowers was pushing 3.875% a bit stronger today as 4.0% was still out there with no fees.
Finally most are realizing that there is no way to concern oneself about inflation. Interest rates are likely to continue lower refuting all those that don’t fully understand what is happening in the world. I am in the holiday spirit so we will talk more in detail next Monday, but if you listen to the junk coming from many pundits you will lose on the idea that rates are going higher any time soon. Wonder where those bears went these days - some still don’t see the light. Some are so ill-advised they still don’t see it - still focused on domestic events and not understanding the global impact that is raining down on all economies. And to top it all off, the 10yr closed at 2.17% today
In summary, the trend is your friend right now and if we can stay under 2.20% for the 10yr, the holidays look poised to be in a gift giving mode. Floating right now seems to be save, but if your closing is coming up soon, do not lose out where the rate is now as it can quickly change.
Remember, if you want to know the benefits of locking your rate today versus floating, simply give me a call at 314-744-7806 or visit my website at www.CallTheMoneyMan.com . I have access to real time Wall Street data and instant market alerts with breaking news that I monitor throughout the day to assist us on making the informed decision.
Finally most are realizing that there is no way to concern oneself about inflation. Interest rates are likely to continue lower refuting all those that don’t fully understand what is happening in the world. I am in the holiday spirit so we will talk more in detail next Monday, but if you listen to the junk coming from many pundits you will lose on the idea that rates are going higher any time soon. Wonder where those bears went these days - some still don’t see the light. Some are so ill-advised they still don’t see it - still focused on domestic events and not understanding the global impact that is raining down on all economies. And to top it all off, the 10yr closed at 2.17% today
In summary, the trend is your friend right now and if we can stay under 2.20% for the 10yr, the holidays look poised to be in a gift giving mode. Floating right now seems to be save, but if your closing is coming up soon, do not lose out where the rate is now as it can quickly change.
Remember, if you want to know the benefits of locking your rate today versus floating, simply give me a call at 314-744-7806 or visit my website at www.CallTheMoneyMan.com . I have access to real time Wall Street data and instant market alerts with breaking news that I monitor throughout the day to assist us on making the informed decision.
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