Sorry for the delay, been a crazy morning.
So what’s happening in the markets today?
- Stock market is resuming it’s downward trend after an up day yesterday.
- Citibank is currently trading for less than the price of a Jr. Bacon Cheeseburger at Wendys.
- Rates drifted back up today.
We’re at 5.25% on a 30 year refi and 5.0% on a 30 year purchase both with 0 pts and a credit score over 720.
Recommendations: I’m going to sound like a broken record, but my recommendation is that you lock all loans. Volatility is a lot higher than it should be and I believe that there’s more pressure pushing up on rates than down.