Mortgage Blog

I have one borrower asked me to lcok the rate today.
I did not do it. It's the 1st time I did do what
the client asked me to do.

I told me that I will lock the rate for you unless
you agree the following:
1)You will commit to the closing.
2)When the rate goes lower in the next a few weeks,
we will still close the loan and do the refi 120 days.

We can no tell the trend in the middle of the trading
range. But it's easy for us to know what we are going
to do when the rate is at the top of the trading range:
we will float until a rtae we like and commit to close.

I submscribed a lot of mortgage magazines, and all of
them said tonight that the bond seloff was overdone.
And we should have one correction.

The bond market is like any other securities. When
there is over-nought or over-selloff, they will be
a correction.

The market just want to find an excuse to fulfill
that even though we don't don't which one yet.

And I heard that tomorrow's rate may go up again.
And who cares. It happened last year as well.
But it took about 2 months to get rates lower again.