May 27th, 2010 12:54 PM by BILL WILBANKS
Well the recent entries into my blog about rate upside risk for floaters saw a little support at midday with the bond market off by 37/32 and lender rate bumps moved points at noon up by about .50% point. That generally equated to .125% in rate increase at the moment today. So, the 4.75% zero point quote that was available this morning is now 4.875% on a 30 fixed for example and the payment on a $200,000 loan just moved up about $15.12 per month if you weren't locked yet. If you are even thinking about refinancing, a rate below 5% in the last 50 years is nothing short of a lifetime event. What can anyone who qualifies possibly be waiting on today?