May 8th, 2012 11:58 AM by Eric Fang
I am reading the book "The Power of Habit" now.There are a few of books of "The Power of...",like the Power of Nice, The Power of Small, andnow The Power of Habits. And those are all kindof popular books.
I like to read the stories from the book. And very interesting ones when you read how the habits can change a person's life. And sometimes, Iam asking myself the question, what's the main differencebetween this book and Blink?
From my own career, I noticed that my clients are ARM people and FIXEd people. For "ARMs", they always choose the ARM program; and "FIXED" alwayschoose fixed programs. nd only small percentage of people changes when the people switch loan programs. And it is normal people will changeto 15 yr fixed or 10 yr fixed when the loan amountis small.
A few months ago, I predicted that those ARM people(with loan amount <=417k) will switch the loan programto 15 yr fixed when rates less than 3%. It stll didnot happen yet. And I am scratching my head when are they going to switch? hen 15 yr fixed 2.75%?