The DOW is getting hit hard again today. As I write this (10:16 am PST), the Dow is down 446! Bad news for the stock market equals good news for mortgage interest rates. Investors are seeking safety by pulling funds from stocks and investing in bonds, like mortgage backed securities.
It’s kind of ironic that in yesterday’s post, I poked fun at Freddie Mac’s PMMS report referring “falling rates” for last week as now it’s true. Mortgage rates have dropped. However, as fast as rates drop, they can rise. Mortgage rates may change several times a day…on days like today, I have seen 5 or more rate changes in a day.
What can you do?
If you own a home and have been considering refinancing, contact your local licensed loan officer. (If your home is located anywhere in Washington state, I can help you). Click here if you would like me to provide you with a no-hassle mortgage rate quote.
In order to take advantage of the current very low mortgage rates, you have to submit an application before the rate can be locked. Mortgage rates are subject to change until the rate is locked with a lender.
Don’t miss out on this refi opportunity! Get a quote – there is no cost and you have nothing to lose!