Well, the storm has passed. The low 5’s are gone. Just as I warned last week, get on now or miss the buss entirely! We had a about a week to lock them in, most people that missed the mid-high 4’s while waiting for the mythical 4.5% monster decided to lock in with the best they could, some kept waiting to see the 4’s again.
Well, those 4’s may be gone for good. But to anyone in Sacramento still in the market and haven’t decided to lock in or not yet, it’s time to ask your professional (hopefully you’re working with a real pro that knows how to read the MBS market) for some guidance. All my clients in position to lock did so last week, and they are all happy about it! Some people are finally realizing what they hear on the news might not be as it sounds in the real world. They are also coming back to reality to realize that rates are still historically very low.