I buy lots of callables because that is almost all of the market out there today, and I don't mind if the call is years out or I buy a low rate that is very unlikely to be called. Buying my own fixed income, I have slowly loosened all my screening filters over time as I have learned how to live with different situations and use them to get some above market income. But I don't mind spending the time and will make the effort even just for an extra 1%..........just this week I bought a 6.3% agency callable in September because otherwise my "fire sale" standby cash is only earning 5% via MM. I don't see my having any problems selling the 6.3% bond if I need the money sooner.