The below from one of my FB contacts in the US mortgage market
Guess the stimulus needed to stop somewhere.
ta
rolf
"Ah yes it's a great day to be in the mortgage business. Rates are up .625% in 30 days, and .25% to .375% in just 1 week. Any quote older than this morning is outdated. It will take a week or two for the media to report the rapid rise in rates. This last 30 days has been a great example of the quick pace of rising rates. Gradual is never the trajectory of rates during a climb. The next piece of news coming next week in the form of the NFP report will either add to the pain or stop the bleeding. I think we may see some slight improvement between now and then, but locking is a must."
Guess the stimulus needed to stop somewhere.
ta
rolf
"Ah yes it's a great day to be in the mortgage business. Rates are up .625% in 30 days, and .25% to .375% in just 1 week. Any quote older than this morning is outdated. It will take a week or two for the media to report the rapid rise in rates. This last 30 days has been a great example of the quick pace of rising rates. Gradual is never the trajectory of rates during a climb. The next piece of news coming next week in the form of the NFP report will either add to the pain or stop the bleeding. I think we may see some slight improvement between now and then, but locking is a must."