If you're thinking about getting a loan...
...you might want to wait a couple of weeks. This afternoon, we locked in a mortgage rate, which practically guarantees a big drop in interest over the next few days.
Still, I remember moving to Midland in '82 and getting a rate of almost 17%. That makes our current sub-6% deal a little bit of heaven!
Closing? Ten days and counting. This would probably be a good time for me to put up a tip jar.
What Gwynne said.
I have no idea what she's talking about, but it sounds pretty flippin' smart.
Posted by: Jim at February 13, 2008 08:26 PMGwynne, that was my admittedly uninformed opinion, as well. Plus, mørtgage rates take some weird turns nowadays. Two days after the Fed announced the last rate cut, mørtgage rates actually went up. It's all indistinguishable from magic, as far as I'm concerned.
Jim, Gwynne could quote the phone book and it would sound smart.
Posted by: Eric at February 13, 2008 08:41 PMClosing in 10 days! Are you doing hand exercises so you can sign your name ... over and over and over and over and over ...
Posted by: Deborah at February 13, 2008 11:38 PMI don't think it's going to go much lower than that. Congratulations on getting a fixed rate! Bet you're breathing a big sigh of relief!
Posted by: Stephen at February 14, 2008 09:16 AMAbout the publisher
Random Abbye photos...
"Glove Box Stories" is Back!
Eel on a Wheel
Meteorological Musings
Random Thursday
Is stupidity the Net effect?
More Invaders
Back Yard Birds
Book Review: "The Year of Living Biblically"
Sometimes, you get lucky...
June Sunset
It's Official...
Google's new favicon rocks the design world
Give the Gift of Flame
The Incredible Shrinking Math Skills
The Neighborhood:
West Texas Blogs:
[Midland unless otherwise indicated]
Other Texas Blogs:
The Business:
The Church:
The World:
I figure if you can lock in below 6%, fixed for anything more than 15 years, TAKE IT! Who cares if it drops a little more (it will never go below 5% anyway so what's the worst that can happen). The probability that rates will go up is much greater. So congratulations!
Posted by: gwynne at February 13, 2008 05:51 PM