The 10 year bond is down almost 4 ticks today. Oil prices have gone near $59 dollars a barrel due to frigid temperature across the nation. As it gets colder the price of oil usually increases. It is very cold this week; below zero in many parts of the nation. We forgot about that bike ride in Central Park a few short weeks ago! The bond yield will usually go down when the price of oil goes up. This brings the long term interest rate down. As seen today, adjustable rate mortgages are still the same or higher than fixed rate loans.

I am looking at the average 30 year fixed conforming loan (417,000) hovering around 6.125 with no points.