The Bond market started the day to the upside and just recently has lost traction and is in negative territory. Why??? News (rumors) out of Italy today that their prime minister is going to resign has our Stock Market doing the Jig. It appears that the Stock Market views this move as proactive and in the right direction to stave off the volatility that could be coming in their capital markets.
For those of you in contract to purchase a home, lock today, who knows how long this slide will last and the rate you can get today is terrific. For those of you refinancing, just depends on when you really want to close. Sooner rather than later? Then lock, stop the stress and take advantage of what the market has given you. For those of you waiting to see 3%, keep waiting, but my crystal ball is not sure if we will ever see that 30 year rate come to light.
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