December 3rd, 2009 6:45 AM by Eric Fang
We are not talking about the book, "Outliers - The Story of Success " by Malcolm Gladwell(He is also the author of "The Tipping Point" and "Blick") here. We are talking about the outliers in Statiscs. Those are the ones out of the sampling of the normal distribution. We want to be those outliers(those successful ones) in our careers and professions, but we don't have to be outliers when we try to get the rates.
We don't have to get 0.125% rtae lower than most of the other people. It's very hard, especially when the rate was at the history low. When We had the chance to get 4.625%(no cloisng cost, 417k) for 30 yr fixed rate Monday Nov 30th, we don't have to be an "outlier" to get 4.5% or 4.375%. When we were able to get 4.875%(729k loans, LTV 60%), we don't have to wait to gte 4.75% or 4.625%. The reasons are very simple, those were history lows, it's very good to get those rates, and it's very hard to get the rates outside the trading range.
We can get those low rates because of the Dubai news. When the crisis eased, we may not see the low rates again. We may need another round of bad news to knock down the rates again. Will we get those low rates again? Maybe. Let's wait and see.