CHINA'S ECONOMIC NUMBERS HAVE HAD A SIGNIFICANT CONTRIBUTION TO THE LOWER 30 YEAR INTEREST RATES THIS WEEK. CHINAS MANUFACTURING NUMBERS SHRANK ALONG WITH CORP. EARNINGS SENDING THE STOCK MARKET INTO SELL MODE. THE SELLING FUELED BUYING IN THE TREASURY AND MORTGAGE BACKED SECURITIES MARKET CAUSING LONG TERM RATES TO MOVE LOWER.
WHAT MANY PEOPLE DO NOT REALIZE IS THAT IT IS NOT ALWAYS JUST DOMESTIC ECONOMIC NUMBERS THAT MOVE OUR INTEREST RATE MARKETS IT IS ALSO THE INFLUENCE OF WORLD MARKETS AS WELL.
OVERALL THIS WEEK MORTGAGE RATES HAVE DIPPED TO SHORT YEAR 2014 LOWS. CURRENT INTEREST RATE LEVELS ARE ALSO LOWER THAN 4THQUARTER 2013. PRESENTING AN APPEALING OPPORTUNITY FOR THOSE LOOKING TO PURCHASE OR REFINANCE AS THESE RATES MOVE OFF RECENT HIGHS.
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