9/11 - Look for interest rates to be unusually good today. Here's why:
1. Demand for Treasury bonds is outstripping record supply. The world's on edge as jittery traders see a deteriorating economic and political climate. Yesterday's 30 year bond auction saw bids for nearly three times the 12 billion bond offering. What that says is open to interpretation, but I believe the Iran / Israel potential for confrontation is a driver.
2. President Obama predicted unemployment above 10% for 2010's first quarter. That number, unthinkable to the administration only three months ago, has the potential to rise even further.
Forget the partisan political implications this may have. Don't go there! You have a business to run. Focus instead on the opportunity that momentarily attractive interest rates present to your business.
If you're a lender, you want to be on the phone to every REALTOR you know.
If you're a REALTOR, you want to be on the phone to every warm lead you've dropped for inactivity.
If you're a title person, send an email blast to every lender and agent in your database.
If you're a buyer, call your real estate agent and get going.