Thursday, December 03, 2009

Lucky Timing

On Monday we were finally able to lock the rate for the loan on our new house. The time limits on rate locks meant that for the last four months we were floating in totally predictable rate territory. I wasn't even watching the rates because I figured it would just make me nervous about something I couldn't control. Imagine my surprise on Monday then, when I found out that it happened to be on a day that set historical lows for rates.

Strangely, home loan timing appears to be the only thing on the planet that I am lucky at. The previous two times we refinanced loans was in April '03 and April '04, which as you can see in this chart were near random significant temporary dips in rates.

Clearly we will have to try hard never to refinance or move again, as it can't possibly work out a fourth time.

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