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Watching The News Can Give You Whiplash

Normally, this blog provides you with a consolidated view into all things home related. On a daily basis, there’s usually something interesting to report. But sometimes, the news itself is the news. If you google “mortgage” and click on the news tab, then in today’s top stories you’ll see that “mortgage rates slipped lower last week” and “mortgage applications plunge on higher rates”. It’s exactly this kind of conflicting news that can drive someone mad. In times like this, the extreme fluctuations in reporting remind one that mortgages are a market, not unlike the stock market. And just like the stock market, trying to time things can be a mistake. Sure, if you wait for the next Fed announcement, whether you’re a buyer or a seller, things might improve. But they also might go the other way. If you guess right, you’ll certainly congratulate yourself. But if you guess wrong, how much worse is that going to be?

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This is not a commitment to lend. Terms and conditions of programs, products and services are subject to change. All loans are subject to credit approval and property appraisal. Certain restrictions may apply on all programs. First Home Mortgage Corporation of America, First Home Mortgage Services, and First Home Mortgage Company of Maryland are d/b/a's of First Home Mortgage Corporation. First Home Mortgage Corporation is licensed in Connecticut, Delaware, District of Columbia, Florida, Georgia, Indiana, Kentucky, Maine, Maryland, Massachusetts Mortgage Lender and Broker (Lic. #MC71603), Michigan, New Hampshire, Licensed by the New Jersey Department of Banking and Insurance, North Carolina, Pennsylvania, Rhode Island Licensed Lender and Broker, South Carolina, Tennessee, Vermont, Virginia, West Virginia. Equal Housing Lender. First Home Mortgage Corporation NMLS ID #71603 (www.nmlsconsumeraccess.org). Privacy Policy.