Yes, Chanukah came early this year in the Stern residence 🙂

Mortgage Rates Left in Dust by Treasuries, Failures

Americans seeking mortgages aren’t getting the full benefit of record low yields on Treasuries and government-supported mortgage bonds, blunting U.S. efforts to curb the housing crisis.

More painful for borrowers than the fact that rates aren’t even lower now is that many who would benefit by refinancing at current rates can’t because of a lack of home equity after price drops, said Grant Stern, the owner of Morningside Mortgage Corp., a loan brokerage in Miami Beach, Florida.

“Let me tell you, the good rates are here right now,” he said.