If you are watching the bond market lately...then you've been holding your breath! The stock market is is up again today on news from Consumer Prices climbing less than expected and Freddie Mac's (2nd largest mortgage lender) posted a smaller than expected loss. Freddie Mac's stock price was up and so was Fannie Mae's as investors are hoping this mortgage meltdown is coming to an end.
There's rumor out that Bernanke may raise the Fed's benchmark Fed's Fund rate by a .25% to 2.25% on OCt 29th...So if you are looking to lock in an interest rate, Waiting for lower rates may not happen. Pick a target rate and lock it in.
Good Luck,
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