Ready... Set... LOCK!

We have seen mortgage rates drop over the past few weeks. They are at unbeliveable lows. As a matter of fact, they dropped like a rock the other day... Some of the rates I quoted and locked for people were numbers I have not seen in a long time.

But yesterday was a Roller Coaster day. Mortgage rates began the day falling again, but by the time the day was up, mortgage rates were up by at least 3/8ths of a percent, and in some cases by 1/2 a percentage point. In other words, that 5.5% rate became 6% by the end of the day!

And today, rates climbed even more. Anywhere from 1/8th to 1/4 pt.

With the economy and Wall Street in such a state of confusion, rates will be all over the place for a couple more days. But after that... HOLD ON! Rates should begin their rise upwards.

If you have a buyer on the fence, or you are a buyer unsure of what to do... FIND A HOME AND LOCK YOUR RATE ASAP. Otherwise you could end up with a higher rate than needed.

And if you are dealing with a reputable mortgage professional and feel comfortable with them, quit "shopping" for a better rate. By the time you have called 3 lenders, rates could have climbed a 1/4 point or more.. It happened yesterday!

If you are not comfortable with the lender you are talking to, call me at 704-651-8704 and I promise to get you the best program to fit your needs and can lock you in fast.

Right now, playing the rate watching game is not a smart move. Rates are jumping and while there may be a quick momentary drop, they will trend upwards for a while to come.

With all this said, I WOULD LOVE IT IF I AM WRONG. But I would not gamble my clients future on it.


This alert brought to you by

The Ed Nailor Mortgage Team
Charlotte, NC

Charlotte Mortgage Lender

Call 704-651-8704 or visit to get approved!


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Ken Cook
Content, coding, marketing, host. - Marietta, GA
Content Marketer/Creator
A confused market makes a major impact on confused borrowers/buyers. Whether you are a client of Ed's or a client of mine you owe it to your future to understand the market in which you are buying. Find and develop a relationship with a professional in the field and trust and depend on them. It is my belief you can trust Ed Nailor.
Jan 24, 2008 01:44 PM #1
Ray Wilburn
Keller Williams Realty - Everett, WA
Nicely said, I will use this information to help a client to buy sooner than later!
Jan 24, 2008 01:45 PM #2
Charlotte Home Loans Your Charlotte Mortgage Lender
Charlotte, NC
Thank you Ken. That is high praise from someone of your professionalism.
Jan 24, 2008 01:45 PM #3
Charlotte Home Loans Your Charlotte Mortgage Lender
Charlotte, NC


A buyer waiting in todays market will only cost themselves money. Home selection is at record highs in so many areas and rates are near record lows. That's a no brainer. A messy economy is something that a savvy buyer can take advantage of. A solid economy means higher taxes, higher rates and less selection. BUY NOW!


Jan 24, 2008 01:48 PM #4
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Nice post, Ed!  Hey, where are my homes on your slideshow?!


Jan 26, 2008 09:26 AM #5
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