Orlando Mortgage Blog

Rate Doldrums For Now

October 7th, 2013 11:33 AM by BILL WILBANKS

 

Well it looks like about 0.25% point improvement over friday 30yr fixed rate points. And friday was worse by 0.125% from thursday. Nothing sufficient to move the rate bar at the moment. The bad news is the markets don't know how to interpret DC during the current family feud so not much is happening. The good news is because of the DC budget issues...not much is happening. But don't be lulled to sleep if you are considering a purchase or refi or have one in the works and on the fence about locking. It can surely turn on a gnats whisker. Stay in close contact with whomever you are speaking with about applying or have applied with already. Have what you need in their hands now. Rates come down like feathers on a calm day but tend to go up like bottle rockets. Be ready to cover your bets.

LATE AFTERNOON UPDATE:  Worsening market conditions have taken back the 25 bp improvement seen this AM above.

Bill Wilbanks

Posted in:General
Posted by BILL WILBANKS on October 7th, 2013 11:33 AM

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