The biggest problem with the Federal Reserve seems to be that the market is trying to understand them. Economist Carl Schramm joined the program to talk about the liberal twist on most economic data released by the Federal Government.
Going in a different direction with your mortgage is using mind over matter; or, even better, accepting greed and rejecting fear. It seems simple, but it could be more difficult than you think trying to accept a new way of action.
As one might suspect this rapid rise in mortgage rates will wreak havoc on mortgage refinancing. And it did. I called a couple of my industry contacts and they state refinancings have plunged by 50% or more.
As I begin to navigate through the mortgage market once again, I feel that half of the craziness in this aspect of finance is because a majority of the industry is built on family tradition.