4.25% 30 yr fixed - ZERO POINTS

Yesterday, the FED re-iterated that the economy is indeed slowing. This has prompted that they revisit quanititive easing. A mortgage guy hearing quantitive easing is like hearing someone say "free beer".We have once again entered unchartered waters as 4.25% 30 yr fixed is widely available with zero points. It is possible to buy your rate down below 4%!  Now, before you get too excited about rates dropping below 4%, I must point out that we do have a floor of sorts as there is currently no mortgage backed security coupon being traded below 4%.  There is only so much room for rates to go down and I am taking the stance that locking a rate is the best move and not to wait for a ship that may never come in. Regardless, it's a great day to refinance your home!