The MOST Volatile Day For Mortgages

Today was the most volatile day in the history of the mortgage market in many regards.  There were days in the early 80’s that saw rates move by similar amounts, but none of them saw the underlying market for mortgage bonds move back and forth by such gigantic amounts.  What does this mean for you and your ability to buy or refi at the rates you may have heard about recently?
That depends on the rates you’ve heard about recently!  Many borrowers mistakenly believe the Fed’s recent rate cuts mean that mortgage rates have fallen by an equal amount.  In fact, many loan originators report getting calls about 0% rates.  Unequivocally, there are no 0% mortgage rates!  If you’re not 100% sure about why that’s the case, please read this article….(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed