How Would You know?

The Mortgage Bond gave back about 35 points today. That means that mortgage prices got slightly worse than they were yesterday.

Mind you, we are still at the best rates since the Kennedy administration... but, it got me to thinking. All week people have been telling me that rates are going to get better and better. one guy predicted (with great confidence) that the rates will drop by another percent because a 'guy told him it would'.

Me, I am refinancing. NOW! It could get better, it could get worse. I only know that my rate will improve enough that it makes loads of sense to act.

So, how will we know when rates have started to move up? We'll know when they are up and it's too late.