12.09.15-If the market was a roller coaster we would all be sick to our stomachs.
Wow, what a see saw battle 200 points up and 30 minutes it is gone. That fast spike this morning sent ripples through all of the markets. Government Mortgage Backed Securities were off by .40 basis points an hour ago and now are back to single digit increases. Make sure your clients are being kept up to speed of the changing market and they don't get caught on the high side. Make sure they understand that an .125% more or less is fractional on a monthly basis and not to sit on the fence thinking a better rate is right around the corner. Lock it if your within an .125% of application. I have said this before, this market is not what we were taught in Economics, this is a new breed of ebb and flow. Who knows if we will ever see the patterns we were taught to help direct our clients. Be a student of the market and if you need help I am always available to discuss.
My rates are out and my investors didn't panic over this mornings ups and downs.
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