Interest rates are going up today... here is the graph supporting my claim. I anticipate this will result in new levels of resistance in the mortgage backed securities market moving forward. If I'm right, rates today despite their being slightly higher than yesterday will be the best rates in the weeks to come. Locking is the smart play, especially for borrowers that are buying a home that is at ceiling of what they qualify for, rates moving higher could compromise their ability to secure financing or require them to bring more money to the table.
The questions about this change in the market I am happy to address. Leave a comment, share your thoughts.
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