Interest rate have come down twice today and twice yesterday.  Is this just an illusion?

The consumer might think all of the media hoopla of rates falling is great.  However, the decline is much smaller than it appears on the television.  Although interest rates do drop a little each day, the average 30 year fixed mortgage is still hovering a bit over 6%.  So, will they ever really go down?  They might rabbit, they might!

Watch for things such as the strength in the US dollar and the price of oil.  Look for news about the secondary mortgage market softening up and banks being able to buy and sell large blocks of mortgage. Lastly look at overall inflation numbers, which unfortunately do not really matter anymore.  How much did you pay for gas this week?

Dale Siegel