July 1st, 2011 6:41 PM by BILL WILBANKS
Been telling anyone that would listen that the 4.375% rate we've had for a number of weeks was too fantastic to ignore. This week proved it. The lowest we're seeing now at the end of the week is 4.625% and that's a limited edition on the 30 year fixed for a well qualified borrower. Number of reports were out this week. The stock market had a GREAT week (bad for rates) and the Feds ended QEII as promised. Here's the details and a a nice chart for those who care enough to know why day-to-day. Thank you to all those that jumped on the low end of 4% in recent weeks. But don't lose tract of the fact that most would have killed for anything below 5% in the last . . . well my lifetime. Perspective! Read on.