Historically there is always that one day that was the best day ever.  In the mortgage industry we look at the lowest day ever for rates, as that best day ever.  That day was yesterday, now what I love the most are the sofa surfers that know more about the market than I do and insist on holding out for lower rates, because our trusted media who by the way has no track record of being correct when it comes to financial matters,says so. The last two easing initiatives  QE1 and QE2 both played out exactly like Operation Twist has so far played out, and there is no reason to think the outcome will produce any further drop in rates than what we have experienced the last two days. Both QE’s produced big gains in the first two days and then came a pull back due to profit taking then a slight rally back the following open market day then flat line for the next couple months. Be sure to watch the video a take a good look at the charts…you will see the patern already deveolping.  There is not one person with a 30 yr fixed that should not be seriously considering a refinance right now…do it for free in case I’m wrong and rates drop further, you can do it again, no harm no foul.  Worried that you are starting your 30 year term over and you will never paydown your home…let me show you how wrong you are…for a free consultation email me or apply on this site. Banks are out of capacity they will not drop rates any lower, each time they do they cut into their own profits and on top of that before this recent drop the did not have staff to handle the loans coming in…so do it NOW, or you will be missing a great free opportunity.