The European Central Banks decision to start purchasing bonds gave the stock market a big boost. Initially there was upward pressure on mortgage rates due to a knee jerk reaction by bond traders to sell. But surprisingly mortgage bonds recovered their earlier losses leaving mortgage rates unchanged. Conforming no point 30 year fixed rates still average 3 5/8ths with 15 year rates closer to 3%. Their lowest level since mid-2013.
And now form something completely different… You probably didn’t know that workers of Ben & Jerry’s Ice Cream are entitled to take home 3 free pints of ice cream or frozen yogurt per day. Not bad at all!
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.
This is Mehran Aram with today's ARAMCO Report.