Mortgage Market's a Mess! Time to Refinance or Are You a Donkey?

Are You Blind? Mortgage Rates Barely Budged!

Right listen up you lot! The mortgage interest rates last week? They BARELY moved. We're talking a whisper a bloody eyelash fluttering in the wind. But surprise surprise even a snail's pace improvement was enough to send all you lot scrambling. Mortgage applications are up 12.5%! What is this a feeding frenzy at a bloody petting zoo?

6.93%? That's So Last Year!

The average rate for a 30 year fixed mortgage crept up to 6.93%. 6.93%! You call that exciting? It's as thrilling as watching paint dry. And don't even get me started on the points! They dropped a measly 0.02%. Pathetic! It's like trying to season a bloody elephant with a pinch of salt. You're 9 basis points lower than last year big woop. Are you sure you want to settle a mortgage in this economy? Because it looks like it is going to end up in the bin!

Refinance? You're Kidding Me Right?

Refinance applications jumped 16%! Are you all completely daft? Have you learned nothing from the last few years? Still I suppose a fool and his money are soon parted. Joel Kan from the MBA is saying treasury rates resulted in 'additional opportunities'. Opportunities for whom Joel? The banks probably! It is so raw you can still hear it mooing!

More Houses More Problems?

Apparently there are more houses on the market. Supply is up 31%. But don't think that means you're getting a bargain! Home prices are easing but they're still high enough to make your wallet weep. Are you going to cry or are you going to cook?

Inflation and China?! Oh Bugger!

Inflation data coming out Wednesday and trade talks with China still rumbling on? This is a recipe for disaster! It is like serving a dish of uncooked fish and expecting them to be happy about it. Either of these could send the bond markets into a frenzy. Honestly it's like watching a bunch of toddlers play with knives. Someone's going to get hurt.

Wake Up You Donkeys!

So what's the verdict? Are you going to sit there like a lemon or are you going to get your act together? Do your research understand the risks and for God's sake don't make any rash decisions! This isn't some amateur hour cooking show; this is your financial future. Now get out of my sight before I call you an idiot sandwich!