Reason rates may go up.
I have found it difficult to predict the direction of rates. One client said it seems like going to Las Vegas, deciding when to lock. This attitude certainly has merit. My upcoming article on who is gambling with your rate lock will shed more light on this.
I don’t plan on making this a forum that predicts rate directions. However, when I note what I believe credible information in this area I will post it.
So it goes today. I note a post by Dan Green. I follow Dans blog daily. The net of it is to expect rates to rise in the near term.
[…] Yesterday I noted this expert advice. It iimplied rates may go up. Today I note this expert information as to why rates just went down. These reports were two days apart, the second tracking information from a week ago. What do you take as pertinent information to your situation. My answer, lock at time of application, unless closing is more than 30 days out. If it is, lock about 25 days from closing. Don’t try and beat the experts, as they often don’t agree. Larry Cragun […]