If we look too closely at anything we focus on the wrong cue. The first thing I do in the morning is check rates. Am I going to have a good or bad day?

Take a look at the two graphs below. The first is a 50+ year view, while second graph covers three months. We all want the rates to go back to sub 3%, but the likelihood is next to zero.

In the long term, rates in the 6’s and even the 7’s are normal, and in some cases, low. We hope to see rates come down closer to the 5’s or high 4’s, if only to shake loose the 3-percenters (coined a new word) and encourage them to get back in the market and sell their homes.