Last week, next week, today, tomorrow? The question I regularly field in these days of refinance is “did I get the lowest rate?” Here’s the simple answer: I don’t know if you did or didn’t. I have been selling mortgages for nearly 12 years (on Labor Day each year I celebrate the anniversary of my leaving the practice of law and beginning my search for the best rate for you, or something like that). Back to the question. When we spoke yesterday, you wanted to know if the rate I quoted you was the lowest rate. It was, for that day, for your situation. Tomorrow it may be lower, but, and here’s the tricky part, it might be higher too. Rates are low and right now they are somewhere between “darn” low and really crazy low. I don’t know how long they will stay this low. I don’t know if they will go up for a while, like they did for most of this year and then the economy will trip again and they will drop to N-E-W H-I-S-T-O-R-I-C L-O-W-S, but they might.
The one thing I do know is that it is really hard to figure out just where the bottom is until we have started going back up. You just don’t want to be saying “if only.” Pick up the phone, give me a call. I am ready when you are. 847-920-8030.