12.08.15 Nice rally going in mortgage rates. Back to last weeks numbers and some.
With oil crashing this is the chance the stock market was looking for, create a sell off and fear. All posturing to keep the Federal Reserve from raising rates. Unfortunately I think it will be a swing and miss, almost a decade of zero cost lending have propped up the stock market long enough. With the bounce back we have in interest rates this week means whatever is announced on December 16th is already priced in to our rates. We may see more seesaw patterns for the next 8-10 days but feel we are in a tight band of trading and will see continued great rates through the first quarter of 2016. Keep selling and I will keep closing them.
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