Mortgage Blog

The DOW was down around 750 points, but the interest rate is not getting lower. The lender is unwilling to give low mortgage rates unless Fed lowers rates again.  Another reason the treasury bonds are higher, but not MBS(Mortgage backed security). So the mortgage rate is not lower.

Also, the lenders will not lower the rates too much when they have lots of businesses. It reminds me of Apple who did not lower the IPhone price when the demand was strong.

I cleared two retirement accounts Monday. All are in cash now. Though not at the best level, but it was ok as long as I can get in later at a cheaper price. I still remembered my 94k investment in index funds in 2008 turned to 400k (last year and this year). Though I will not sell that account, I believe the market will go lower in the next two years.