Last Week's Mortage Rates Recap
Last week saw rates remain basically the same for the week, but with lots of volatility. That means that depending on when you locked your loan, it could have been a difference of as much as $1,000 in rebate. For the month of February, we have been staying in a very tight range. Real time monitoring of rate conditions has been very important in obtaining the best mortgage rates.




This Week's Mortgage Rates Forecast
Risks Favor: LOCKING
This week the risks still favor locking, with the technicals in MBS not showing any signs of a reversal. The RSI (Relative Strength Indicator) does not forecast a correction, and we hang perilously at the Support Level of 103.25 as we did most of last week. While we feel the market SHOULD be correcting, we are just not seeing it yet. Consumers who choose to try and wait it out, trying to achieve the best rates that we have seen in the past, will likely pay for that mistake. All technical indicators point to locking in interest rates before we see continued rate erosion. How we end the week will be especially important. Again, we must emphasize that consumers need to see the risks for trying to obtain better rates are much higher than the potential rewards they may see. All technical and fundamental indicators point to locking in rates as soon as possible until we see a reversal.