My New Blog

There was a barrage of bad news this week and with the government buying mortgage backed securities- the interest rates could not push lower.  Rates are hovering between 4.75-5.125% for most clients with 1%-.5% origination and 0 discount points on a 30 year fixed mortgage.  I am wondering where all those people are that said wait for 4% rates?  I am not sure if we will see them. The news stream is not good but we just are not breaking out and seeing rates go really low.  Maybe investors are saying this is enough.. long term 30 year money at this rate is historical.  JP Morgan Chase did beat their earnings expectations yesterday.  Maybe that 1 good think outweighed the 5 other bad things.  

Don't wait on refinancing if it makes sense for you move forward.  There is a lot of volatility out there- and nothing that is happening in the market is normal-it is emotional and confidence driven.