It’s important to recognize that advice is extremely valuable when looking for a mortgage. The right advice can literally save you thousands of dollars, while the wrong advice can cost you the same. I’m talking on this subject because too often when we’re asking the wrong questions when shopping around.
The first thing you’ve got to have your antenna up on is economic news if you want to have any idea what direction rates are moving.
Here’s this week’s economic calendar:
Photo Courtesy of Mortgage Market Guide.
So, what does this mean? There’s not as much as last week going on! Truth is – it only takes one report to move the market. If traders are pulling money out of stocks and piling it into bonds, rates can change very quickly. My advice is get advice from someone who gets it. If you want to stay updated as these reports come out, follow me on Twitter.
I’m keeping my eyes on the Jobless Claims report on Thursday. Even though it’s often an insignificant number (when you really look at the overall percentage), the markets react like someone just flushed the toilet as you were in the shower.
Stay tuned. I love this stuff!
