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How low can they go? (How strong is your stomach?)
Looking to buy or refinance? It is time to hop on a mortgage!
Unprecedented, that is the only word that sums up what we have been experiencing in the markets the past week or so.  Interest rates are in territory that we have NEVER experienced. For the first time EVER FNMA 2.0s traded last week. Effectively that means there are actually 30yr fixed rates available in the 2s now.
Putting this drop into perspective- the Ten Year Treasury averaged about 2.19% in 2019.  We ended the year with the 10yr just under 2%.  in the past few days that 10yr dipped as low as 0.3% and currently trading at 0.692%.  That is biggest swing in interest rates in history. 
 
Mortgages also have fallen, but not as much as the 10yr.  Low threes are the norm for most right now with the occasional two for high quality low LTV large loan amounts.  
This quick move in rates has caused them to stack up on each other, effectively making it almost necessary to pay points especially if your loan has an LLPAs (that's mortgage speak for Loan Level Price Adjustments or in English: add ons)
It is currently cheap to buy the next rate, and never before in my 3 ... more

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