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Technology and how We Communicate 
I don't usually write about issues that don't relate to the mortgage or finance industry, but I just have to weigh in on this.

I have twins sons that are 11. Earlier today, one of them mentioned that Malaysia Airlines(?) determined that Flight 370 had crashed and all passengers had perished. The frightening thing, according to my son, is how they notified the families of the passengers. They did it with a TEXT. Not a personal text, showing empathy and kindness to each family, but a GROUP TEXT. Something like - all passengers of Flight 370 are dead. Seriously, this is just cold-hearted and really unacceptable.

This is a societal problem, I believe. Younger generations very rarely make a call because it is so easy to text your friends. I certainly understand the benefits of texting and emailing, but they shouldn't take the place of conversation. We live in a society that thrives on technology, and thank goodness, it usually makes my life so much easier. It should not, however, take the place of inter-personal communication. After all this time, a simple call to offer condolences to the families was the least they should have done.

[ add comment ]   |  permalink  |   ( 3.2 / 70 )
Rates Remained Unchanged for the Week 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment on a single family home.

The Conventional 15 year fixed rate remained the same, as well, at 3.500%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
There has been some minor improvement in the mortgage market this week, but lenders seem reluctant to move rates much lower. I think this improvement makes it reasonable safe to float, there is the potential for continued volatility, so don't put your head in the sand. If you are uncomfortable with risk, then should always lock your rate.

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Rate Stability is a Good Thing. 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment on a Single Family Home.

The Conventional 15 year fixed rate remained the same, as well, at 3.500%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
There is the potential for continued volatility, so don't ignore the market. If you are uncomfortable with risk, then lock your rate, but if not, I think the risk is minimal in floating, especially since rates have been stable from week to week.

[ add comment ]   |  permalink  |   ( 2.7 / 109 )
15 Year Fixed Up Slightly at Week's End 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment on a single family home.

The Conventional 15 year fixed rate rose this week to 3.625%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
I think the risk/reward situation at the current time is roughly 50/50. I know that doesn't help much, but that said, lock it in unless you are very comfortable with the potential for your rate to rise slightly.

[ add comment ]   |  permalink  |   ( 2.9 / 101 )
Rates Unchanged, but Remain Cautious 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment on a single family home.

The Conventional 15 year fixed rate remained the same, as well, at 3.500%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
Well, not much is happening due to the Holidays. The bad part of that is a little downside action will move rates higher more than it should, so I say lock it in until we see what the New Year brings. Better safe than sorry at the moment.

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