Mortgage Industry update
Election day is turning out to be a great day for both bonds (MBS up 90 bps currently) and stocks (DIJA up 202 currently). Mortgage rates are possibly at the beginning of the rally we talked about last week. So far rates have improved by .25% today on 30 yr fixed with no stopping in sight. I will be sure to keep you posted as the higher rates may have been keeping the “on the fencers” on the wrong side of the fence.
I would invite you to also listen to my recent audio podcast about the market conditions in the Phoenix, Arizona area. It also digs into the northwest valley market conditions.
Click here to listen to the podcast!
