So, how will the mortgage market work itself out in the next few weeks?

 

 

Today, the rates went up, as they did Friday. Part from the unknown, the price of the Treasury Market- bond yields went up a lot, the price of oil- went up, Gaza (ouch) the unknown- did I say that? And (of course) waiting for Obama…..

 

The fact is that mortgage rates are going up higher than they should; the banks are thinly covered so the loans are taking much longer to go through the system and housing prices continue to slide. This refi boom and great rates for 2009 might be a myth spread by hungry mortgage loan officers or fearful Wall Streeters. The roller coaster will continue until things work themselves out.

 

I am not one for predictions, but is this like waiting for Gadot?

 

Dale Siegel