Greenspan's Mortgage Blog

"Today marks the inauguration of Barack Obama as America's 44th president. There are no economic reports due for release, but lately that hasn't stopped Mortgage Bonds from trading erratically... and today is no different.

The markets are waking up and realizing that more Treasury Bonds will inevitably have to be sold in order to carry out the rescue plans and stimulus packages of late. The additional Bonds create more supply than demand, which drops prices. Treasuries, in particular, are under very heavy selling pressure this morning.

Overall, prices have improved significantly from their worst levels earlier. I recommend floating for now as prices test an important level of support. If the situation changes, I will let you know."

Joseph Greenspan

President

First Fidelity Home Mortgage of Wisconsin, LLC

Don’t trip over dollars to pick up nickels.  Rates are low and it is very hard to time the market.  I remember in February of 2007 rates went down to 5.125%. 

People on adjustable rates were playing the market telling us they were waiting for the rates to come down a little bit more.  Within a few days rates shot up to 6.5%. 

Why would someone jeopardize the well being of their family’s financial well being for a few dollars?  These are unprecedented time.  If rates go down more in the future refinance again. 

Remember bird in the hand is better than two in the bush.

Joseph Greenspan

First Fidelity Home Mortgage of Wisconsin, LLC