The benchmark 10 year note yield fell to 1.693% helping keep mortgage rates at their lowest level since mid-2013, fueling another refinance boom. Boosting demand in the bond market were two measures of manufacturing sentiment in January which matched their worst performance in a year. This thanks to weakness in the European and the Chinese economy as well as the stronger U.S. dollar. Conforming no point 30 year fixed mortgage rates average 3 5/8ths with 15 year rates closer to 2 7/8ths.
And now for something completely different… Did you know that prior to Sunday’s Super Bowl XLIX, the favorite had won 69% of the time? The New England Patriots were also a 1 point favorite in Sunday’s game.
This is Mehran Aram with today's ARAMCO Report. For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942.