Will rates dip into the fives by the end of the year? They just did!

By
Mortgage and Lending with Guaranteed Rate NMLS# 2611 NMLS #208860

escalator We're finishing 2007 on a positive note as mortgage-backed bond prices have ridden the UP escalator the past 3 sessions (+9 bps today) and interest rates are loving it.  With a few of my lenders, rates have dipped into the high 5% range.  If you look back at my past few blog entries, I had a feeling that we were due for a nice little year rally and that's exactly what has happened.

Now, I'd like to think I'm ultra-skilled at predicting the future, but I can't even watch the weather and bring an umbrella on rainy days.  I just have some great tools that help keep me and my clients informed.  And numbers don't lie.  Mortgage-backed bonds were bargain-priced, and just like the malls these days, low prices bring out the buyers.  Looks like we're running out of steam on this particular ride up, but I anticipate some great rates in 2008.

Wish you could predict which way rates go on a daily basis?  Would that be something of value to your clients?  I'd be glad to share the tools I use to help you in your business.  Maybe you could share what you use as well.  Post a question or comment on this blog and we'll continue the conversation.

Comments (2)

Dan Forbes
Bradenton, FL
Mike, Maybe it's time to refinance.  We may need to talk at the end of this week.
Dec 31, 2007 01:53 AM
Mike Tullio
Guaranteed Rate NMLS# 2611 - Sarasota, FL
VP of Mortgage Lending
As Dr. Phil says on those mindless Match.com commercials, "It can't hurt to look".  I wish my crystal ball went out more than a few hours or days at a time, but it's a fairly expensive upgrade.  Love to be able to help you out in any way I can and look forward to working together in 2008.
Dec 31, 2007 02:27 AM