Posted by Vincent Spilotro on 8/30/13 10:02am
Msg #482623

Rates down today =)

Saw the article below. Anyone else loosing sleep over the rate spike last week? I swear, I've been up till 2am every night on this.

Mortgage rates continued lower today after a weaker-than-expected economic report this morning from the manufacturing sector. Not only does weak economic data put downward pressure on interest rates in and of itself, it also helps firm up the consensus on when and how the Fed will begin reducing its asset purchases. "Sooner and bigger" is worse for rates, but the more weak data, the more the implication shifts towards "later, less, or both."

The data was out before lender rate sheets and markets had largely reacted to it by then, but MBS (the 'mortgage-backed-securities' that most directly influence mortgage rates) stayed strong all day, indirectly benefiting from the geopolitical risk that was hurting the stock market in the afternoon. Some lenders released improved rate sheets throughout the day, resulting in a 30yr fixed rate moving firmly back down to 4.625% now (best-execution), for the most ideal scenarios. Some lenders are well-priced at 4.5%, but they are the exception.

Reply by Malbrough_LA on 8/30/13 10:25am
Msg #482626

I wouldn't want to loose sleep. It could be painful.

But no, I haven't lost sleep. I finish my day, and I go to bed. The rates are whatever the heck they are when I go to bed and when I wake up. The phone will either ring or it will not. Am I going to allow it to alter my stress level or cause anxiety? Absolutely not.

I mean this in an absolutely non-condescending way: Let go. Some folks append the phrase 'Let God' on the end of that. But, if you believe in a power greater than yourself, and you're like me, adding 'Let God' on the end seems rather silly. He's going to do what he's going to do regardless of whether you "let" him or not

Reply by Linda_H/FL on 8/30/13 10:30am
Msg #482629

Touche Ryan!! n/m

Reply by NVLSlady/VA on 8/30/13 11:18am
Msg #482636

Re: I wouldn't want to loose sleep. It could be painful.

Like!

As for losing sleep . . . it IS painful! Resulting in a host of health problems, including chronic fatigue, depression, moodiness, high blood pressure, diabetes (tend to eat more, and badly), and you name it!

Of course, the OP is a Smart business owner and planned appropriately for the slow period (as any "smart" self-employed person does); so, there is really no need to forgo vital sleep. I dare say, not many of us will see the "poor house."

(btw, wasn't it the millionaire who said, "Poverty, my dear lad builds Character, character, I say!")

Reply by Shoshana/AZ on 8/30/13 11:51am
Msg #482650

Let Go and Let God basically means to give up control

to your higher power. It's not in our control so, don't stress over it. I don't think it's silly.

Reply by jba/fl on 8/30/13 11:54am
Msg #482653

Re: Let Go and Let God basically means to give up control

It is redundant.

Reply by NVLSlady/VA on 8/30/13 12:16pm
Msg #482661

Re: Let Go and Let God basically means to give up control

Yes, essentially means same thing.

Of course, in a different context: If I saw only the TWO words (Let Go.) on a bumper sticker, it might just go over my head.

Reply by NVLSlady/VA on 8/30/13 12:30pm
Msg #482664

then, I'd probably cause an accident laughing so hard!! n/m

Reply by Malbrough_LA on 8/30/13 2:03pm
Msg #482675

Julie hit the nail on the head. It reminds me of the Monty

Python quote attributable to John Cleese: The Department of Redundancy Department.

But, I understand someone not viewing it as "silly." To place it in an even more proper context, consider it along with this quote, "And acceptance is the answer to all my problems today. When I am disturbed, it is because I...." finish it.

I have a feeling several here know it by heart and it's source.

Reply by jba/fl on 8/30/13 9:21pm
Msg #482732

Re: Julie hit the nail on the head. It reminds me of the Monty

I do now - the Googles are mighty powerful searching and resulting. (thanks, Brenda)

Reply by JanetK_CA on 8/31/13 8:23pm
Msg #482833

Re: Let Go and Let God basically means to give up control

I think the challenge for every individual, though, is to do our best to carefully distinguish between what IS within our control and what is not. For those things truly completely outside of our control, worrying about them isn't going to change anything - except perhaps our health, as has already been said.

But instead of just shrugging our shoulders and saying to ourselves "oh well....", what we CAN do is try very hard to identify, whenever and wherever possible, the things that we DO have control over. Once identified, we can then formulate and implement plans to deal with what we can, and then as a result, potentially lessen the impact of the things we can't do anything about. We can also try to anticipate potential challenges in advance and work on being as prepared as possible if and when they occur.

For many people, that's a recipe for a good night's sleep! (And sometimes, how well someone does or does not sleep has absolutely nothing to do with any of these things... )

Reply by Jana Miller on 8/30/13 12:33pm
Msg #482665

Re: I wouldn't want to loose sleep. It could be painful.

LOVE your post Malbrough!!!!! You read my mind.

Reply by rolomia on 8/31/13 6:06am
Msg #482758

Insert modified lyrics to MASH theme, here...

Through early morning fog I see
Visions of the things to be
The pains that are withheld for me
I realize and I can see
That rate spikes are painless
They bring on many changes
and I can take or leave them, if I please.

The game of a notary's life is hard to play
I'm going to lose it anyway
The losing card I'll someday lay
So this is all I have to say
That rate spikes are painless
They bring on many changes
and I can take or leave them, if I please.

The sword of time will pierce our notary skins
It doesn't hurt when it begins
But as it works its way on in
The pain grows stronger, watch it grin
but That rate spikes are painless
They bring on many changes
and I can take or leave them, if I please.


A brave SOS once requested me
To answer questions that are the key
Is it to be or not to be
and I replied 'oh why ask me?'
Cause That rate spikes are painless
They bring on many changes
and I can take or leave them, if I please...

and you can do the same thing if you please. JMHO

Reply by Bear900/CA on 8/30/13 12:37pm
Msg #482666

Rates are what they are...

I was affected by only one deal I hadn't locked yet, only because my customer was affected and that bothered me but they understood what happened. It was just freakish.

People are now in an acceptance mode. There's nothing anyone can really do about it.

I have a friend who would literally get sick over the economy. He's an M.D.! I talked him through several years of self-inflicted pain. He's finally resolved, took a new position (attitude) about the economy and is much healthier.

Let's face it, we know its' there, it's lurking, we cannot deny that. But we don't let the human spirit succumb to it.

My favorite quote from my dad when he struggled with cancer was, "I never have a bad day! Just good days...and not so good days."

Fortunately, I'm a chip off the ol' block. While I am serious here at times, I also need to cut-up. You can depend on that!

Reply by MW/VA on 8/30/13 2:08pm
Msg #482677

No point to worrying about this--the news is designed to

get us to worry. It's not just about rates, but also who can qualify. There's been rumors flying around for a while about doing away with 30 year fixed mortgages, doing away with the mortgage interest deduction for taxes, etc. It's scare tactics. Go with the flow. It will be what it will be!
We still live in the greatest nation in the world & all of us live very well compared to other parts of the world where their main concern today is whether they or their children will starve to death.
Try to keep all this in some kind of realistic perspective.