Recent shifts in the stock market have sent more and more investors back into the safety of government bonds. The increased popularity of US bonds has pushed yields on those bonds lower and mortgage interest rates have followed. The yield on the 10 year T-Note closed at about 30 basis points lower than its 2013 highs from about a month ago. That means that mortgage interest rates are about a quarter percent better now than they were in mid March. Yields on US bonds are not quite at the all time lows they hit last November but they are getting in the same ballpark again.
If you have considered refinancing contact us in the sidebar immediately. When the trends on rates are moving in the right direction it is an excellent time to start a refinance. There are several government refinance programs that are up and running now that have proven extremely helpful to millions of American homeowners already. The Obama administration has extended and enhanced some of these programs, such as the HARP program and the FHA streamline program, to make them even more beneficial to borrowers. Contact us in the form on the right to learn more.