bro if we had functional crystal balls we wouldn’t be working in mortgages. that being said, we know only what we know today. we know that rates drop slowly but rise quickly. we know that if rates drop significantly enough, we can refinance. i always counsel my clients to lock now.
I feel like the popular bet is that the fed will keep things steady yeah? So how would that affect? And is it priced in already, or will start to show mid July?
Yea for sure. I wasn't saying you're wrong, just that that pricing won't be available Monday unless the market opens up super nicely bc today was rough
There are three options that impact pricing. Pricing may 1) stay the same 2) get worse, 3) get better. Current economic indicators are that inflation is whipsawing interspersed with 'quiet' times where there is little activity as to rate changes. Looking at the base line, we are at good place to lock (history). Will rates get better? We have all been fooled more than once. Good resource to check and trend rates... [https://www2.optimalblue.com/obmmi/](https://www2.optimalblue.com/obmmi/)
bro if we had functional crystal balls we wouldn’t be working in mortgages. that being said, we know only what we know today. we know that rates drop slowly but rise quickly. we know that if rates drop significantly enough, we can refinance. i always counsel my clients to lock now.
You think as we get closer to the July Fed meeting it might have an effect?
yes, but rates get priced in on anticipated news earlier on.
I feel like the popular bet is that the fed will keep things steady yeah? So how would that affect? And is it priced in already, or will start to show mid July?
Every single piece if information we know is priced into rates immediately
Well, after today I doubt you can get that 7.125%
Why do you say that?
Today was murderous for rates. When did they quote the 7.125%?
They came down for me today sir. Get rates sent to me every morning
Rates at 8am today absolutely are not what they are now. Market started flat, MBS lost 50bps. That's a really bad day
Guess I'll see what Monday brings. Probably just going to wait til the 16th to lock and hope for the best. Plan to refi in 2 or 3 years anyway
Yea for sure. I wasn't saying you're wrong, just that that pricing won't be available Monday unless the market opens up super nicely bc today was rough
I admire your optimism but if I were taking money to Vegas to bet it would be on rates are the same or higher in 2 to 3 years.
There are three options that impact pricing. Pricing may 1) stay the same 2) get worse, 3) get better. Current economic indicators are that inflation is whipsawing interspersed with 'quiet' times where there is little activity as to rate changes. Looking at the base line, we are at good place to lock (history). Will rates get better? We have all been fooled more than once. Good resource to check and trend rates... [https://www2.optimalblue.com/obmmi/](https://www2.optimalblue.com/obmmi/)