Mortgage Rates Tumble / Bonds at 2004 Lows

Mortgage rates over the last few weeks have improved just modestly even though Treasuries have been making solid improvements.  Everyone, at least everyone that I know in the business, is remarking why rates have Not fallen further.

Then today, the first day after the Thanksgiving Holiday, the Bond Market lost it’s Floor and Bonds have reached their Lowest Level since March of 2004.

 So what does this mean for the average consumer?  Well, in my opinion Only, I think the market is Finally realizing that things really Aren’t So Rosy.  It also might just be a Great time for those sitting on the fence to refinance or puchase to finally take the plunge.  Now I know that some may come back throwing bricks saying that I am just trying to drum up business, but hear me out.  After-all, I have been doing this for more than 37 + years.

I’ve seen cycles before.  If I’ve learned one thing, it’s Never take things for granted that they will always be like this.  What do I mean?  Simply this……..Strike while the Iron is Hot!  It can Always change on a dime and go the Other way.   One thing I know for sure is that the traders on Wall Street Normally Always Make Money……….and they do so BY Manipulating the Market.  Lastly, in my business, I always seem to see the market improve and by the time I’ve seemed to spread the word….someone or something in the market sends it the Other Way.

So in this writers opinion, do Both of the following if you are Considering Buying or Refinancing:

1.  Contact a Competent and Ethical Lender of Your Choice.  Run the numbers to see if doing any of this makes any logical sense for You.  If you are in California, call me for a Free Analysis- Or if you think I’m just blowing hot air- CALL someone else of Your Choice, but Call Someone.  Like I said, things don’t always remain the same.

2.  If you are Happy with the rate you are given and can Live with the payment- Lock It !  I always tell people this when I meet or talk with them.  Just remember what I said…if you can Live with It-Lock It.  There is a saying… Bears make money…Bulls make money…and Pigs get Slaughtered.   People always say to me, well if the market is going down maybe I should wait and lock it later- I always tell them that’s fine, but don’t Complain to me if the Market Turns on a Dime and goes the Other Way leaving you with that sick feeling as to why you Never Locked in the first place.

Two final things…… if I have helped you in any way and you need assistance….look me up at http://ocmortgagefinder.com And Tell a Friend…we Live by Referrals.

Lastly, if you think I am full of you know what……check out this link in today’s Bloomberg….it may open your Eyes as to the Validity in what I am saying.  http://www.bloomberg.com/apps/news?pid=20602007&sid=agS59UEbFUlo&refer=rates

Best Regards and Happy Holidays