Julian made some excellent points at this morning meeting, especially his thoughts that the current stock market volatility does not compare to the September 2008 financial markets meltdown. Remember his website: www.thebasispoint.com. He mentioned how current conditions have once again plunged interest rates to the realm of historic lows. Here are the 5 year and 3 month charts from Bankrate.com:

30-year Fixed Rates over Past 5 Years:

click to enlarge

Over Past 3 Months:

click to enlarge