I grabbed this off of Mortgage Market Guide. Seems that interest rates are probably not going to stay low forever. Who would have thought??
Unemployment Initial Jobless Claims numbers came in better than expected on Thursday. More positive news for the markets will lead to increased pressure on the long term bonds/mortgage backed security yields.
MMG has a locking bias - but that can change with future negative economic data. My opinion - take advantage of the lowest rates in the last 50+ years and lock in. The downside is minimal, while an uptick will cost you thousands over the years or the opportunity to save some money will be lost.
Who's stopped paying their mortgage at a rate that greatly exceeds the rest of the population? You'll be suprised - http://www.cnbc.com/id/38163917
Have a great day!
