It is a cold and snowy morning here along the lake shore. Looking out my office window I am reminded of how beautiful the white stuff can be when I look at it from inside. My appreciation for it goes down significantly when I am behind my snow blower or the wheel of my car.
I wanted to give you a quick update. The last two days have seen mortgage pricing deteriorate nearly 70bps. That offset a large part of the recent drop we saw. While rates are still attractive, 30 year fixed rate money is no longer in the high 4's without points or high closing cost. Rates are still very favorable. Like I mentioned in my blog post a couple of days ago, I thought that the extremely low rates were a blip on the screen. Based on the last couple of days that appears to be the case.
We are working diligently to return all calls and e-mail. Thanks for your patience as we are working through a large back log.
Please review the blog as you will find answers to several questions about refinancing. Here are just some of my recent post:
What Are Rates?
Refinancing Q&A
Fed Cuts Rates By .25%, What Does It Matter To You?
As always, my team and I are here to assist you. Please be patient as we are working hard to give each client the time and attention they deserve.
Have a great weekend and drive safe!
