Mortgage Ready to Move Lower
Did you catch that recent dip in rates? No. Well many didn't considering how fast those low, low rates appeared and then vanished!
Fixed mortgage rates moved higher and higher in the past few weeks and recently settled in almost a full point above the recent lows we saw in January.
Some good news to report today. Mortgage bonds are reversing in today's trading so it is likely we have seen rates peak in the short-term. Now, we will see those same January lows again? A few weeks back I thought so for sure. But now, with how much higher rates moved I'm not so sure.
However, we are likely to see a move lower come about in the coming 2-4 weeks. Just how low we go will be left up to the market. For those of you that armed me with the information to lock in a low rate, I'm watching every day.
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