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This is the last week of August, and we are heading into Labor Day Weekend. Many mortgage market players are on vacation right about now.
It's unfortunate because after a dull week, the market will get hit between now and Friday with data, including Friday's very influential jobs report.
Unfortunately, there won't be many traders around to witness it.
When there are buyers and sellers a-plenty in the market, it's easy to find a "match" for a fair price. This week, it won't be simple.
By Friday, Wall Street will be a Ghost Town. It's like Holiday Season, only not quite so bad.
If you are floating your mortgage rate for whatever reason, it may be prudent to lock it now to protect your hide -- it would be a shame to carry a higher mortgage rate for the next 5, 10 or 30 years because a bunch of guys in New York decided to go to the Hamptons for a few days.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
Bonus: Click to get a free, no-obligation rate quote. I love to work with my readers!
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