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Wednesday, October 27, 2010
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7 comments:
happy hour
well let's see who wants to show up
i'll try and get to North Side Social at 5:30, and I'll try to toss a comment on the board of how to recognize me.
Thanks for organizing it, pat; I have company coming in this weekend so can't be there, but I hope you have a great time.
we will see who shows up and
perhaps we can start making it a regular thing.
housebuyer,
Any thoughts on the current craziness in the bond market and the effects on interest rates? After seeing what happened on Monday I panicked and went ahead and did a 35 day rate lock for our loan. In the past week the 10 year treasury yield has gone up a quarter point. I know I'm new to this, and Robert has shown that you just never know what the interest rate will do - but right now I'm just glad we locked when we did. It looks like a bumpy ride for the next few weeks, especially with the Fed hinting that QE2 might not be as substantial as everyone thought.
I'm so glad I'm not a bond trader or a day trader of stocks. I don't have the stomach for it.
Jeremy-
That is probably a smart decision. I obviously have no idea what the fed is going to say on their November 3rd meeting. If they underwhelm the market with the amount of stimulus rates could rise dramatically. If they overwhelm rates will fall, but as long as you are comfortable with the current rate there is no reason for you to take the volatility. Rates could easily move at least a 0.25% in a day, which would cost/save you tens of thousands of dollars.
anyone looked at 15-yr fixed recently? are the rates at the historical low as well? tks!
MM-
Rates have risen over the past few days, but over the last couple of weeks the 30, 15, 7/1, and 5/1 were all at historic lows.
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