Mortgage rates dropped no more than a spit in the bucket late Friday afternoon.  Don’t get excited, they are still over 6%. They probably dropped a bit because oil went up yet again and our currency had another flush in the toilet this week.  Cost me 51 dollars to fill up my Saab and I wasn’t even on E!

Yowza!! What was good this week?  The higher loan amounts known as “jumbo conforming” now will include 2 family houses and coops.  That is good for NYC residents but not so good for folks in Kansas. Home sales went up, but prices went down….or was it the other way around?  I am seeing a bit of an influx in  market activity, but I do work in the New York Metro area.

So, let’s see what next week shall bring for us. Who knows?

Dale Siegel