While friends are bemoaning their losses in the investment market, I am smiling and watching the mortgage rates drop to the lowest they have been in many years.
I remember, in a former life, hiring young engineers right out of college and they were buying condos and paying 16 & 18% interest. I was agast and listened to the economists saying we would never see rates in the single digits again. I also rememeber a professor saying "never" is a long time. He was right.
And the past couple of weeks with all the FED movement have been very volatile. Many days have had with rate corrections mid day. But the rates have come down enough and stayed low that we are getting into a fairly busy refinance wave.
Still people sitting on the fence though waiting for just a little more drop. Don't wait too long :-)