Thanks for the post. We are watching these rates closely

I hope that this kind of news is consistent as we head towards "summer buying season".

This is probably only good news for buyers, and the ones that still have jobs!

I'm telling everyone to lock in the upside risk is much greater than a further reduction.

It is good news for buyers, glad to see you watch the market this close!

Your Friend in Charlottesville Virginia!

Charles,

I have to.  I'm a lender!  It's the main thing! LOL

Terry,

I'm in agreement.  If you like it, LOCK IT!

Debra,

I was always under the impression that good news for buyers is good news for sellers.  I can't do anything about everything that's wrong with the world, so I never focus on the negative.  I only focus on what I can change with a smile and an understanding of how I can better my client's life.  Sounds like a blog coming on!

Kent,

Strike while the iron's hot!  Today is the only certainty.  I just locked a $417,000 mortgage on a $945,000 sale at 5.75%  (This deal came through Active Rain!)

Charlie,

Ditto my comment to Kent.  Thanks for stopping by, and for being the FIRST to comment!

Mike in Tucson

I like you saying, "If you like it, lock it." I think I will borrow that.

I think the rates are great for buyers now. If you could just get the media to stop talking about the market crashing, maybe they would buy something.

Just did that with two buyers today. 

What about the "jobless".  Where are they going to live. 

Improved interest rates is ALWAYS good news!!!!

Thanks for the video info too!!!!  :-)

Good news for Buyers and Candians who are appearing in tucson in droves :)

Good news for sellers too! After all, their homes just became easier to buy.

Very interesting. I've been thinking inflation is the biggest threat for a while, now you're saying lock now, so I guess it's serious.

Always good news for us when the rates go down.  Thanks!

Amie,

Ain't it the truth!

Ann,

Locks are always near-term, usually for 30 days, not so often for 45 days.  When things are as uncertain as they are now, it's a good idea to pass the risk on to the lender by locking.  I've seen customers of mine say "lets wait until tomorrow; things might improve."  When the bond market deteriorates, rates go up much more quickly than they went down.  So if you like it, LOCK IT!

Chuck,

That's the truth!

Anne,

Love those snowbirds with their strong Loonie Dollars!

Barbara Jo,

You're most welcome!

Lenn,

I've been jobless.  I've been a millionaire.  I've been belly up bankrupt.  It never changed my outlook.  Help those whom you can, whenever you can, has been my credo.  I'll bet it's yours too.

Larry,

Non illegitimum carborundum.  It's the fight song.  Google it!

Karen,

By all means.  If you like it, LOCK IT!

Mike in Tucson 

Mike,

I don't think increases in joblosses are good news for agents. This could easily translate to even more foreclosures and dropping home prices.

Sandy

Sandy,

The increase in the job loss number is good news for interest rates.  Lower rates mean more affordable houses for buyers in the market, and in this first quarter of 2008, we're seeing more purchase transactions.  That's my point.

Mike in Tucson