Today we have seen the entire bond market take a huge hit. Mortgage Backed Securities and Treasuries are way down, and I mean WAAAAAYYYYYY down. We’ve seen the market off by 2 full basis points. Meaning as much as 0.75% to rates from just yesterday. I will keep an eye on things as they progress and let you know. For the time being, I’m just hoping they stop the bleeding.
~Greg :: Roseville Loan Expert
P.S. Rates are still very good. Anything sub-6% is very good and interest rates are definitely still in the 5′s. It may be that the days of fixed rates in the high 4′s are over, possibly forever. It will take quite a lot for mortgage rates to get back to where they were after the massive sell-off in bond land today.
[...] Read the rest of this great post here [...]