Blog of the Mortgage

February 13th, 2008 10:00 AM

Well, it's up, it's down: but right now Lock 'em if you like 'em.

This week hasn't been good on rates with some upside surprises (consumer spending) and Warren Buffett messing with what looks to be an otherwise sour economy.  Remember to log-in to our site for up to the minute pricing.
It's my belief that Traders are profit starved right now and because of this they are flip flopping on product every day. You get equities one day and bonds the next.
Long-Term, short-term, long-term, everything is uncertain. Also this weeks light Economic Data calendar didn't give any more clear projections as to Economic Downturns (other than increased spending which is opposite of down).

Either way: be prepared by floating in and pulling the trigger once you have a complete approval.  Having only locking/doc'ing to handle on 15 days gives you the best performing price and lets you close quickly. Everything is pointing negative for Housing/Economy and this will slowly seep into the traders brains again as further dour news presents itself.

Remember: this price pendulum will swing both ways very quickly so don't be surprised when it violently swings one way or the other.
Posted by Raoul Badde on February 13th, 2008 10:00 AMPost a Comment (0)
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