Monday 1/12/2015 Rate Update

Mortgage Bonds begin the week near unchanged levels in the absence of any economic reports or any major geopolitical headlines.

The big news continues to be the declining price of oil, now in the $46 range for a barrel. This had pushed gas prices at the pump down to a national average price of $2.13, a five-year low.

With Stock prices declining, I will continue to recommend floating as rates may continue to improve.