Rates are down a little this morning. This is partly due to a down day for stocks. Remember that money that leaves the stock market often finds its way to the bond market. The increased money supply for bonds such as mortgage backed securities helps increase the value of those bonds. This, in turn, lowers mortgage interest rates.
One quick point that I want to make this morning is to remind your buyers that an Adjustable Rate Mortgage might be right for them. This is not the case for every buyer, but it is for some. Please click the link below to find out more about Adjustable Rate Mortgages.
ARMS: Bad or Good?
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