Mortgage Rates at Historic Best - Stocks in a "Slow Crash"The Fannie Mae bond is currently trading 22 basis points above Friday's close and since there's an inverse relationship between bond price and yield (rate), rates have gone down again...about .25% - in points - lower than Friday's close. Why? The Dow is now down 115 points, below the dramatic slide on May 6th. Bonds, including mortgage bonds, are seen as secure so when institutional investors sell stocks they park them in bonds forcing bond prices higher and rates lower.
Lock or Float?
Historic times require immediate action. If you or anyone you know and care about is purchasing or refinancing, the time in right. I advise Apply and lock now.
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