Mortgage Rates - Finally off the bottom?

Mortgage and Lending with Wisconsin Home Lending, Inc.

Well, I think we finally hit bottom (read: worst rates of the year).  Today, the mortgage markets showed strength, and hopefully, with my fingers crossed, tomorrow we get off this low point.  There's not a lot of economic data for the market to be looking for right now, until next week with Consumer Confidence and the monthly jobs report.  

I still think there's major economic turmoil coming.  I also think we will get one more shot at sub-6% rates, and this time, anyone who didn't take their shot needs to take it.  I've read some very eye-opening reports about segments of the housing and financial markets that still have not impacted the numbers yet.  But they will, and it won't be good.  I personally will be reducing my stock exposure for a while.  We haven't hit the bottom yet, and when this is all done, it might even look worse than 1929 did.  

At least I paid under $4/gallon to fill my tank last night...

Lock/Float?  I don't like to do this, except with my current client list.  But, for today, since we are about to break out from this 4 day range (I hope), I'd say wait and see until tomorrow at least.  Long, long term - I'm floating.


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Jeffrey Stoub

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