Another important fact to point out to your customers is that historically interest rates go up considerably faster than they go down. And while we haven't seen any calamitous drops in the market recently, every long time veteran of our business can attest to that fact.

Crashes in 1987 and 1994 and to a lesser extent in 2003 have all claimed millions of dollars in Loan Officer commissions and made tens of thousands of borrowers curse their propensity for bad luck. This is also the reason that when we have intra day price changes that they should lock whenever rates are at a level where they can feel comfortable with their rate and payment because holding out for something better has a very limited upside and huge downside potential.

Tomorrow we will look at how you can turn odds that are definitively 50/50 into your favor.