I started the Rate Watch Experiment on Feb 14, 2008.

Since then I have taken a fictional rate with no points and tracked the changes in the mortgage market.

So many people mistakenly believe that long term mortgage rates fall when the Federal Reserve lowers their rates. This is not true as longer term mortgage rates are tied to treasury bonds.

Since Feb 14, 2008, rates have increased. The fictional rate I started out with on Feb 14 would now be 0.125% higher and actually cost a borrower 0.500% in points. On a $250,000 mortgage that's $1250!

Follow along at http://RateWatch.EdNailor.com

Folks, now is the time to make your move! Rates are still very low. Make your move before mortgage rates jump.. the increase is coming!

Ed Nailor - Charlotte Mortgages and Charlotte FHA Loans


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Ed...you're so right. Everyday people think the Fed lowers mortgage rates, but every indicator I see says that bonds are over-rated and that long term rates will keep going up. They're GREAT right now...but they've also gone up over 1% in my market since 2-3 weeks ago. Lock in your loans, everyone.
Feb 26, 2008 09:39 AM #1

I love your experiment! Very creative!

To your success!

Feb 26, 2008 11:06 AM #2
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