The Fed announced that it will begin to buy MBS in early January. Good news?
Well, yes, it is good news, and although that move is pretty much already priced into the market and rates are already low, it is also true that rates have risen since two weeks ago. So, we might see them float back down to the levels of two weeks ago.
And, it was at that point that I locked everyone I could. Since then, I have been taking refinance and purchase mortgage applications for people all around Atlanta, the state of Georgia and even neighboring states. But, I have been floating the rates, waiting on this event. So, by next week we will have a window to lock loans again.
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