The swing in mortgage rates over the last week has been astronomical. 

Some mortgage products popped higher by one-half-percent Wednesday afternoon.  You can exactly when it happened on the chart.  And those losses continued through to Thursday, too. 

As money poured in the stock market and the Dow Jones rallied, it all happened at the expense of mortgage bonds and that jarred rates higher.

Quickly.

Now, directly related to the Fed's surprise rate cut Tuesday morning, mortgage lenders are saying inbound call volume rocketed this week. 

Unfortunately, "this week" is too late. 

Last week was the "right" time.  Last week was when homeowners should have been looking at their options for lower mortgage rates and lower monthly payments.

As a homeowner, you can't expect to know what mortgage markets are doing on any given day.  And you shouldn't have to.  This is the job of your loan officer. 

It's an unwritten part of your professional relationship.

If your home loan was actively managed, you didn't have to call your loan officer this week about getting lower rates; your loan officer was calling you.  And lowering your payment.

By contrast, if you were forced to rely on your own instincts to remortgage to a lower rate, you missed the boat, and missed the savings.

Working with the right loan officer can make a huge impact on your ability to save, invest and live.  If your loan officer is not giving your mortgage the attention it deserves, ask a friend for a referral to a loan officer that will.

Or, perhaps you've been orphaned and didn't know it?

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Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.