Today the Wholesale par rate hit 5.875% on 30 year loans. This is the first time we've been below 6% in a long time (maybe March or April).  It seems likely rates will continue to drop as well. As the economy tanks and we head into a possible recession, the rates will be lowered to stimulate activity. Prices are of course dropping too so some people will be very lucky.

Read this at your own risk: If I were giving advice, I would not lock in any loans right now…float! Of course now that I've said that rates will go up! I always tell my clients "if you lock rates will go down, and if you don't they will go up".

Personally speaking, this is supposed to be the busy summer season, and although I do have loans, they are no longer in sufficient volume to support my family. I have gotten a day-job at Lithia Honda as a new car salesman. So if you need a loan or a car talk to me.

What a crazy world it is. I never ever saw myself selling cars, but it is the best paying job available around here if your skill sets are mortgage brokering since 1990!

It's been interesting getting to know the car sales business. The car sales culture has started a real change from the hard sell mentality to a "client for life" mind set. This is the only reason I was able to even take on the job. I can still stick to my work ethic which is to put your needs infront of my needs.

One more thought on real estate, if you are contemplating selling your home in the next 18 months, get it sold now, it's value is only going to get lower. Otherwise keep it for 2 years.   

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