What a wild ride

Ok, is everyone worn out from this past week’s economic news, or am I the only one?

Even for myself personally there was about a 4 hour window where I could have gotten an interest rate low enough to justify refinancing my own home.  With a great loan officer who was looking out for me, I was able to lock it in for 24 hours.  Without him, and because I was busy working that morning when rates dropped, I would not have been able to get that done.

Still, I didn’t take it.  Hmmmm….. other factors at play, like do I really want to bump up my mortgage amount by folding in many of the costs associated with making a refinance happen?  Or am I mostly concerned about cash flow?  When do I think will I sell my house?  These are all the factors to consider.

The good news is that if you are in the market to buy a home, the interest rates these days are incredible.  They went down and then back up again this week, so it’s worth having a loan officer looking out for you if you’re thinking of locking in a rate.  Also, home prices are great.  The bad news is that there is so much uncertainty about pricing and timing, and the blasted news reports just keep on pounding on us.  As one advisor recently said when asked about how to reduce stress during these stressful times:  just put away the newspaper!