Rates are holding steady despite the yields moving down. 10 –year bond yields are below 4.70 today. First time in a long time! Employment numbers came out better than expected—seems almost everybody has a job. Oil has gone over $61/barrel….I guess its cold out there this week. The dollar is doing funky moves with the Yen. Watch the market closely next week. It will shake, rattle and roll.

     DO NOT LOCK IN YOUR INTEREST RATE TODAY. Monday should be lower. Fridays and Mondays are notoriously bad days to lock if you do not have; my rule is never ever on Fridays and only on Mondays if you have to. I have three closings scheduled for next Wednesday and should lock in today. I want to wait until Monday, so my clients may benefit from a lower rate of- I hope at least a 1/8 of a point. A 1/8 lower on the rate will equal 8 cents per thousand dollars. Example: 100,000 dollar loan with a rate lower by a 1/8 of a point will save you $8.00/month. I do the math in cosmos or lattes. Not much of a dollar difference, but people appreciate the efforts.

Stay warm and have a great weekend!