“Rick what do you think rates are going to do” that was the questions from one of my newer loan officers. From the corner of the room we heard Keith one of my old timers yell “rates are going to go up and they are going to go down” and then he laughed. He laughed because he knew my answer.
He was correct too then I follow his mimicking of me with my standard example - “when I was in construction we gave one guarantee on concrete, we guarantee it will creak”. It is the same with rates the one guarantee is that rates will change. They will go up and they will come down.
But right now, today, rates are poised to drop.
With a little luck, and the fed’s keeping their noses out of the market we have a great opportunity for rates to lower.
Why, inflation. With oil settling down and the dollar gaining some traction, inflation looks to be under control. If all this comes to pass then rates should improve.
Keep your fingers crossed.
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