Today we saw a massive landslide rally due to Brexit and Brexit only. Domestic data was ignored, and markets saw the biggest movement since the February rally! 10 year yields hit 1.406 during the overnight session, and then came backup slightly to close in the mid 5's. The last major rally in the bond market wasn't as strong as this one, and though we expect to see some pull back, this is putting us in the "NEW" three year lows category. Check back next week for more up to date mortgage news, and updated mortgage rates.
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• 30 year (FRM) rates at 3.49% (-0.11%).
• 15 year (FRM) rates at 2.78% (-0.12%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.57% (-0.05%).
• 5/1 ARM rates at 2.92% (-0.06%).
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