Mortgage Rates: Varying Degrees of Opportunity Presented

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Posted To: Mortgage Rate Watch

In the world of mortgage rates there are varying degrees of opportunity, all of which are dependent on your wants and needs. Making the decision to lock based on a near term economic event, such as the Employment Situation Report last week, would imply you're judging opportunities based on a sensitive lock/float timeline. As in, you must close your loan in the next 30 days and cannot afford to lose your current market rate quote. On the other end of the sensitivity spectrum we find the folks feeling sorta "ho-hum" about the whole lock/float thing. This group isn't numb to upward movements in mortgage rates, but their current payment is more than acceptable. This group needs a total reversal of fortunes. It needs a return to rates below 4.00%, or the deal just doesn't make "cents". This would...(read more)

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Source: www.mortgagenewsdaily.com

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