Melissa's Mortgage Minute

Market volatility today climbed to its highest level since Donald Trump won the Presidential election in November. Geopolitical concerns from France, North Korea, Russia, and Syria compounded with growing concern that President Trump will not be able to deliver on his lofty economic promises. Which sent stocks into the red. Down over 100 points earlier, the Dow managed to close with just a 6-point loss. 

On the data front, small business sentiment fell and job openings in February rose by 2.1% increasing concern that the jobs market has slowed down. 

As always, bad news for stocks is good news for bonds. Investors fled to haven investments today including the 10-year bond pushing its yield DOWN to 2.29% the lowest since mid-November 17th. Mortgage rates also continued to decline. The average 30-year fixed is 4.00% with 0 points. While that rate has been around with select lenders, it can now be found with many more. Adjustable rates are also dropping! All good news for the spring real estate market. Buyers seem to ignore the world when it is time to look for a mortgage!