They typically had a game plan in mind. A lot of them are still hesitating. Until they really see it starting to move up significantly, it's very difficult for them psychologically to move away from that.

You need to factor in the (interest-rate) differential, as well as the costs of refinancing.

They figured they would be moving, downsizing or able to pay it off.

For the last couple of months, I've been contacting clients and giving them that opportunity. You're getting much more bang for your buck doing a fixed-rate mortgage than doing an adjustable-rate mortgage.

They should calculate what their rate would be if adjusted in today's market and compare that with today's fixed-rate market and assess their personal situation. Do they have adequate funds to reduce or pay off their mortgage at the end of the adjustment period?

Matthew is a leader and he showed that on Sunday when he just said to the boys to have a positive frame of mind. He also said that the group had done the hard work and, while we'll miss him, his words were inspirational.