Mortgage Interest Rate News 2-25-15

Yesterday the bond market rallied and that rally somewhat continued today.  Mortgage interest rates improved with the rally however we’ll need to see the rally continue the rest of the week to see any further improvement.  Janet Yellen testified before congress and maintained the Fed is going to be “patient” when considering an increase in rates which is why the market rallied.  Mortgage interest rates continued to be influenced by events in Europe and the oil market.  Sales in the Midwest surged recently as other parts of the country continue to see a slow down despite the current low interest rate environment.