Yes, rates went down yesterday- big time! If you heard the radio and TV news, read blogs or went to a cocktail party, you would know that the Fed infused (more) money into the Treasury, which in turn made yields go down. Lower yields mean lower rates.

 

So, at around 4PM on March 18^th, the lock in party began. We locked in four loans yesterday and one today. Yippee!

 

Words of caution: do not wait a few more days to see if they will go lower. Last time this happened, at the end of November, rates popped down drastically and crept back up the following week to much high levels.

 

We can already see that rates are leveling off or have gone up a spit at a few of the big banks.  Was it a tease?  Probably, so don’t bet on it.

 

Lock in for an extra long time and close that loan. Now is not a time for greed. Remember, rates are at their lowest levels in 40 years.  I think I saw that on a billboard somewhere….

Dale Siegel