Last week the bond market rallied in reaction to the Malaysian airplane being shot down in Ukraine and the Israeli offensive in Gaza. Historically such geopolitical tensions spark a flight to safety rally in U.S. Treasuries which in turn keep mortgage rates low. Conforming no point 30 year fixed rates average 4 1/8th with 15 year rates closer to 3 1/8th. Meanwhile lending standards are loosening up a bit and the FHA is offering discounts to homebuyers who go thru counseling.
And now for something, completely different: Did you know that the typical lead pencil can draw a line that’s 35 miles long? The folks who come up with such data much have a lot of time on their hands!
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.