Good morning Bankers, Brokers & LO's. ,
Our market is off by .1875 this AM with no news BUT Mr. Greenspan speaks Friday. It hard for the Feds to acknowledge the economic problems. We have higher prices and rates ahead. Some of it is due to oil and some due to Inflation creeping up. When 1: material costs go up, 2: wages go up, 3: interest rates go up, then Inflation raises it ugly head. If it's due to oil the Feds will stop raising rates but if it's due to wages etc. ,they will keep raising rates to slow the economy down further. The problem is they are always behind the problem. The economy already starts to slow down before they get it. We will get slammed with a big push up on rates over a period of a few days and then wonder what happened. Be prepared and stay locked. Higher rates are ahead in the not too distant future. Longer locks are not bad right now . Stay locked and stay happy.