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September 28, 2011


by billthemortgageguy

Well,  I kick, I scream, I yell through the Megaphone RATES ARE DROPPING, but it seems that the news is the best advertising we have to get the phone ringing.  The only problem with that is it could be too late.. Last week we saw another rate drop and with that came a bulk of business, but not as much as you would think.  I hear some say the market has “knee jerk” reactions and this wave will come back, but will it?  I think so.. The reason being is two fold, when you see a major loss in the stock market as we had last week, investors rally to try and make money off of that LOW LOW point. “Buy low, sell high”  and there you go.. BUT the downward pressure we have on the markets right now is just too heavy for the false hope to build momentum.  That means wait, watch, and pull the trigger when the right time comes to take advantage of saving when you can.  Listen to the Loan Officers first,  not the news..  The news always has a delayed response to the market turns and when it is moving this quickly timing is everything.  The other point I would make is if you are saving  enough to make a difference with  “no costs” or “low costs” involved in refinancing take it and run. You can always capitalize when the rates drop again, but you can’t go back and get the rates that have already passed.  Waiting for the “home run pitch” in this market will only force a strike out. With the end of the year approaching watch for the volatility and trends to be moving rapidly.   In the past I have seen the most volatility and lowest rates around the fall/winter and spring months.  October-December, and MARCH.. Feel free to call with any questions 630-330-5626


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