Mortgage Blog

The rate went up so much after the election. It is indeed a black swan. And nobody expect that kind of rate hikes.

I know the bank stocks are pretty good, but still I sold all BAC on my retirement account. Will try to sell WFC when it goes up a little bit. I think 15% to 20% gain within one week is good enough.

Sometimes we like the higher rate, when we are on vacation, or we can train more for the running of the marathons. But for our clients, we prefer to have lower rates.

Though the interest rate went up, the 7/1ARM rate is not bad. The conforming rate is 3%, with Jumbo 3.25%, all with no closing cost at all.