FNMA Bond Improves, Dow Closed Down - LOCKThe Fannie Mae 30 year fixed mortgage bond closed +31 basis points and the Dow closed -78. As we've mentioned before stocks and bonds compete for investment capital so as stocks decline capital moves over to safer bonds and bond yields, as well as mortgage interest rates, go down.
Lock or Float?
Mortgage interest rates are again at historical bests! So if you've been considering purchasing or refinancing NOW is the time to lock. Remember, we can only lock pre-approved loans, so my advice is to Apply and lock now while rates are at their best.
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