Worries about the the worldwide economy in recent weeks have sent investors rushing to the safe haven of U.S. treasury bonds. That movement of money has sent yields on treasury bonds to the lowest they have been since June of 2013. Movement in mortgage interest rates tend to roughly mirror the movement of the 10-year T-Note, so as the yields on the T-Note have been dropping, so have mortgage interest rates.
It’s looking like this Fall will be the best time in a long time to refinance a mortgage. If you have a mortgage interest rate that you would like to lower, contact us in the sidebar right away before rates move higher again.