Mortgage Blog

Let's start with a story.

I used to to trade Wells Fargo stock. It's not because
that I have any "insider" info. The only thing I know
is that the company is healthier, compared to any
other banks, so relatively, risk is smaller.

In March, 2009, stocked was around $8.6, I did not
buy, since I thought it will go lower; then it went
back to $14, I still did not buy, because it was too
high, compared to $8.6. And now you will be happy
whether you bought the stock at $9 or $10 or $14.

Same for the mortgage rates. I have one person asked
me for 3.125% for 15 yr fixed rates. I told him that
I did not have that rates so far in history for no
closing cost at all. Are you sure to wait for this rate?
What if you will never get this rate? So the strategy is
more important.

Then what's the best rate? Like as I said before, that's
lowest rate you locked and closed.