Warning...could be a wild ride tomorrow in the markets

Interesting article on bloomberg....see article

If this is the case, get ready for the yield to skyrocket tomorrow.  This could be a temporarily a good thing for mortgage rates.  The one thing that could derail any decreases in mortgage rates would be further deterioration in the credit markets.  Any further weakness to mortgage backed securities, which is likely, and we're in for another wild ride.

So if mortgage rates drop significantly tomorrow morning, then LOCK that loan!  Because you don't want to get caught floating when the Fed does decide to drop rates.  If they don't drop rates to 2%, then look out!

 

 
Post is included in group: Salt Lake County

6 Comments on Warning...could be a wild ride tomorrow in the markets

What a CRAZY market ?!  I wonder when this is going to settle down.  I see a lot of increased activity in my business, and people coming out of the woodwork ... if only the rates would be kind enough to get the majority of these folks to act!

03/10/2008 12:55 AM by Derek Bauer, Associate Broker - Door To Dreams Team www.DoorToDreams.com (Real Estate One, Inc.)


Derek,

I'd just like a two or three week period of tranquility!  Now I know why some people compare this market to stormy weather!! 

03/10/2008 12:59 AM by Karl Christen Utah Mortgages~Mortgage Planning Expert (Envision Lending Group)


The Fed truly is not acting from a position of strength.  It should have started dropping rates a long time ago.  A drop of one full percent could be interpreted by some as a "bold more" and by others as a "panic move."  The last thing we need is more of a panic mentality.  Thanks for sharing.

03/10/2008 01:02 AM by Fort Worth Real Estate - - - Karen Anne Stone (RE/MAX Trinity)


We will all be watching and I agree we need a wild ride (bottom put in place) or this is going to be a long painful ride... just my opinion.

Your Friend in Charlottesville, Virginia!

03/10/2008 06:50 AM by Charles McDonald / Your Trusted Broker for Charlottesville Real Estate (RE/MAX Assured Properties)


You're right on that. Besides the media it's the uncertainty that have most people freaked. If we could hit the bottom fast and hard we might get a little bounce. If we just keep sliding into it, it will be a long painful ride.

03/10/2008 10:54 PM by Gene Wunderlich - Selling Southwest California Homes / Temecula & Murrieta (Coldwell Banker Residential Brokerage)


Great post.   I can't wait to see what happens by the end of this year.   Looks like we are in for a great ride with ups and downs this year.

03/12/2008 01:20 PM by Mehmet Met Dilsiz (FND Photography)


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Loan Officer: Karl Christen Utah Mortgages~Mortgage Planning Expert (Envision Lending Group)
Karl Christen Utah Mortgages~Mortgage Planning Expert
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