Top of the morning to everyone!
So this morning’s economic reports swung mortgage rates in the direction you’re not wanting to hear.
The PPI (Producer Price Index- measures wholesale inflation) came in higher than expected, and the NY Empire manufacturing index came in much lower than expected.
Since we’ve seen the hits this morning, there would be no point in locking in losses, so continue to float if you have a transaction going on.
Folks, interest rates change daily and due to the economic environment that we are currently in, we are seeing these great low mortgage rates. You must understand that in 2010, you will undoubtedly see higher mortgage rates come across because we can’t be in a recession forever.
Take advantage of what you have in front of you and don’t look back. There are WAY too many incentives to cash in on!
