The Veridian Blog

Mortgage rates are back to eye-popping all-time lows.  The rally started last week with the release of the FOMC post-meeting statement which indicated that they have concern about the pace of the economic recovery and that they are more worried that product prices will fall rather than increase, which means inflation is of little concern at this point.  They also changed the verbiage used from the previous meeting to give a strong signal that they are prepared to use more stimulus to keep the economy moving in the right direction.  This was a welcome statement, as the bond market's number one concern is always going to be inflation and now it is apparent that interest rates will remain low for some time.  The bond market overcame strong economic reports for Housing Starts, New Home Sales and Durable Goods. 

This morning, the buying has clearly carried over from last week.  The benchmark 10-year Note is down to 2.52% as the stock market has lost steam since the opening bell.  Please email us for improved pricing on ALL programs, including the Jumbo variety!!!