September 20th, 2013 12:33 PM by BILL WILBANKS
After Wednesday's Fed Taper shock that helped the DOW and S&P reach new highs and the mortgage rate sensitive 10yr Treas plunge to 2.69% bringing on lower rates...points have been easing slowly up again on lender rate sheets as the new car smell wears off. The DOW is down 82 points at the moment and the market appears to have given back a 1/3 and more of the gain since Wednesday. You need to be ready to take advantage of rate improvements folks. They can go up as fast or faster than they tend to go down. Some lenders jumped their points slightly yesterday as the 10yr edged up and those that didn't appear to have done so this morning though net only by a few bp in most cases at the moment. This may be a WINDOW and taking advantage of drops is sporatic at best. Be one of the smart ones....luck is said to be 90% being prepared when it happens.