Mortgage Rates Drop Again

We had a nice rally in the proxy for the mortgage bond market with the TLT rallying to a price of 116 before backing off a bit late on Friday afternoon.  When the TLT rises the 10 year yield on the US T Bonds drop and on Friday it hit a 2014 low of 2.38%!  Mortgage rates are now close to 4% for a 30 year Fixed Mortgage.  The bombings that were ordered by the President seems to have had some influence in this shocking move lower.

 

TLT 8.9.14

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