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12.11.15-Happy Friday, remember the big swings in markets I mentioned before?

Stocks are now tied to oil more tightly then usually. And those declines are chasing investing dollars to treasuries and mortgage backed securities.  Oil dipped again with China doubling their existing oil reserves removing some of the over supply from OPEC production and starting to cripple the US drilling & fracking business with below cost products. Bad for US businesses as well as potential unemployment concerns. Yesterday's post mentioned "out of sync" patterns taking over. Who knew it would start the week after the report was posted, further proof how out of sync it is becoming.

The good news gas is cheap freeing up more income to spend or use towards up-sizing or downsizing real estate. While the rate increase in inevitable next week, it is more important to listen to the remarks about the current conditions and the FED's expectations of what they want to see in future economic reports to determine further rate increases. One wrong word on the 16th could cause some serious swings in the markets. These comments from the Fed on the 16th will shape our 1st quarter.

Better news I feel  no matter the results of the 16th is the opportunity ahead in 2016. Borrowers up-sizing can take advantage of still historically low rates, softer underwriting standards and more disposable income from half price gas to purchase higher priced homes. While downsizing clients will get even more from 2016, the ability in a hot market to list their home for more and get some of the losses of the last decade back.  These clients have been waiting a decade to sell and next year they can get a premium for their larger home while buying a smaller home at  great prices.  

As for today the lenders are playing it safe with rates, slightly better pricing and waiting to see if the market sustains these gains. I see several market re-pricings for the better to end our week. Watch for re-posts to pricing in your LINKEDIN threads today! It is a Happy Friday!