Mortgage Rates Report

Mortgage rates have declined some 1/2 of 1% in the past two weeks.  We advised you to float your rate, back on December 27, 2007 but I warned you that the decline may be short-lived.

Lock all loans at application.  If you have a loan in processing, and are floating the mortgage rate, lock your rate.  The  worldwide liquidity injection has had its desired effect.  The anticipated Fed rate cut, on January 30, 2008, is already built into the pricing.  there is more risk to mortgage rates rising than there is reward for holding out for a lower rate.

Lock your mortgage rate.  I'll be in New York City, until Friday.  I can be reached at (858)-699-4590 after 2PM PST today.  Debra can be reached at (858)-228-0617.

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