What a turmoil..What a mes..
Rates are up up up
today I have had three rate changes.. Are the Feds going to raise rates ? I sure hope so, then our rates would come down. The speculation is killing buyers. Last week they heard 5.75 and this week they are hearing 6.25. That is a big spike in a week. I think they will come sdwn again and soon. But in the mean time we are going to face nervous buyers and nervous sellers.
Maybe the rates will do the opposite of what Iam saying and come cause buyers to buy. They may feel that rates will be going higher. Be cautious of lenders lowballing.. get locki-in confirmations.
Keep in mind that all underwriting is taking much longer.