Mortgage investors are fixated on all the political posturing surrounding the fiscal cliff. There are over $600 Billion in spending cuts and tax increases that will go into place at the end of the year if Congress doesn’t act. If a compromise is reached, many experts believe the stock market will likely rally. Until then, I expect to see increased volatility in the stock and bond markets.
This is an excellent time to take advantage of the low interest rates:
30 YR ($417,000 or less): 3.25%
15 YR ($417,000 or less): 2.625%
30 YR Jumbo: 3.875%