We are seeing some sharp moves in Oil, the Russian Ruble and US stocks this morning; all the uncertainty in the global markets are making US Bond related assets attractive. As a result, we are seeing mortgage rates drifting slightly lower this morning and we are seeing 30 yr fixed rates testing the 3.875 levels of about a month ago.  We will continue to monitor and see if rates get any better but I suspect we will bounce back here over the next day or two and settle back into the 4.00% range on 30 yr fixed loans. The Fed is also kicking off their last meeting of 2014 and will release an economic statement tomorrow.

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