How Quickly Rates Change
Rates are still low...but in just one afternoon during this volatile market, I have received 5 price changes from one lender. Rates have been increasing due to the markets improving. The Dow recovered from 300 loss and closed today with a 299 gain! How's that for a roller coaster?
We have the FOMC meeting on January 30, 2007 and the Jobs Report next Friday...the rate ride will continue.
As always, I recommend locking your rate.
If you did not lock your rate this morning after receiving a good faith estimate or rate quote, it may not be available at what was originally quoted.
I believe the ancient chinese curse is in effect these days (May you live in interesting times!).
Posted by: Sandy | Wednesday, January 23, 2008 at 05:06 PM
Sandy, you could be right!
Posted by: Rhonda Porter | Wednesday, January 23, 2008 at 05:47 PM