The sky is falling?
No this is an opportunity to save some money
News, well negative news, makes
mortgage rates go down. There’s been a great deal of yelling about the trade
sanctions with China. I am personally glad we are finally facing off with a
bully who steals all our intellectual property. I’ve had books pirated, and even
rose patents. On this issue both Republicans and Democrats seem together. I’m
not running out to buy a bunch of electronics or steel or a car or any other items
that come in metal containers from China. Other news also stirred worry in the
bond market. Brexit seems unsolvable. Europe struggles. Don’t bring up war with
Iran in my house, we will also start yelling.
What does all this bad economic
news mean when you thought we were on the happy train to higher wages and free
medical insurance?
The Fed is not going to raise
interest rates this year. My crystal ball says the Fed is going to swing wild the short way
and price in a seventy percent of a 32-basis point cut by October 2019. I love
a Halloween Refinance Boom. We’ve had several Halloween Refi-manias in my
thirty year career. Is a 32- basis point cut down too much? I don’t believe the
American economy is doing that strong. Don’t you know three people who have to
work two jobs to afford their house? I know fifteen or more. My magic eight ball says: save money!
Mortgage interest rates are at a
twelve month low. IF you bought or refinanced in the past year I can save you
money on your payment. Treasuries at 2.15 and the Ten year bond is 2.35, a
fifteen month low.
More roller coaster volatility is
ahead. Expect rates to swing up on a Friday when everyone is spooky or running
off to the Hamptons.
Get your loan application in and
approved and update as needed. I’m here to help save you money.
C G Caroline Gerardo Barbeau
NMLS 324982
(949) 784- 9699
This is not a commitment to lend
Equal opportunity lender. Why would anyone not be an equal opportunity lender
that makes no sense to me
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