Wednesday, November 16, 2016
That looks completely normal. Said in the most sarcastic way.
The banks are front running the Fed again. Since Trump won, interest rates have gone up about a half of a point. I know the banks are capitol starved, but I'm not sure the people who run banks understand how to run banks. I always think - they must know where the pain point is. But obviously they don't. At 4% the market is nearly dead. Refi's most assuredly are completely dead.
Every single time the banks do this - rates collapse. And if the Fed raises in Dec (and I think they will) it will only cave rates more. The market just isn't quite ready for it yet. The way the banks do this is the craziest thing I've ever seen. It's like a kid who hasn't ever had chocolate, then find a tub of chocolate and then proceeds to eat the whole thing.