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.