I came in this morning early as I do everyday, got my coffee and opened up my computer. The morning rate sheets were waiting to be downloaded and I could not believe my eyes. A 30 yrs fixed rate loan is down to 4.50%.
I guess I know what I will be doing for the rest of the day and the weekend. I'll be calling every old client that I ever did business and ever talked to and let them know what the rates are doing and see if they could use lower payments.
This is my Christmas present. Hopefully lots of refinances and maybe even a few purchases. No reccession here for me. Well this could be a good holiday and maybe with these rates we could have a way better '09.
These rates should stimulate any buyer who was on the fence to take advantage of the low home prices and incredible rates. The best of both worlds.
I wish all of you lots of luck and a great Holiday.