Mortgage rates are bouncing around this morning with the volatility in the markets largely due to an 8% drop in China’s market and dropping oil prices. This morning, the Dow was down over 1,000 points and is now (8:53 am) down about 247. It’s been quite a wild day and it’s far from over. Remember, mortgage rates are based on bonds and may change several times a day.
I’m back from my vacation, sailing the Broughton Islands in Vancouver, B.C. with my hubby and our (almost) 2 year old puppy, Hitch. Thanks to my great team at Mortgage Master for taking care of my clients while I was enjoying some time off. I’m relaxed, refreshed, recharged and ready to help you with your mortgage needs.
The Chinese stock market is taking a hit as the Shanghai Composite lost 8.5% overnight. This is giving mortgage backed securities a bit of a boost this morning. Check out the mortgage rates I’ve posted below.
Mortgage rates trended higher on Friday following the much stronger than expected Jobs Report which even included positive revisions for the two previous months. Weak economic news coming from Europe and China are helping bonds (like mortgage backed securities) improve this morning. Mortgage rates continue to be around 18 month lows so this could be a good time to review your current mortgage to see if refinancing makes sense. You can start the new year off with a lower mortgage payment and more money in your pockets!