I've been following the news a bit watching stocks fall and bonds rise. My loan officer is still telling me that rates haven't changed this week. Any thoughts from the wise mortgage people here? Should I go ahead and lock in now or wait it out...I'm closing Dec. 3rd.
I'm confused. I have been trying to educate myself on interst rates, and I am just confusing myself. I watched the bond market all day yesterday thinking that when bonds were up, rates go down. Is that wrong? The market showed a -.10% yield change, but today rates were .10 higher....or at least that is what my loan officer said. Can anyone enlighten me? I could have locked in at 6.75% yesterday....today it's 6.875. Should I take 6.875? I'm confused!