Overall, enjoy today’s bond rally and downward move in rates. Some analysts are already downplaying the news and predicting it won’t have nearly an impact on the global economy as some are claiming. The future will tell us if today’s move was justified or if it was an overreaction. I believe the news is favorable for bonds, but am having a hard time justifying the reaction in the markets, especially when considering the recent downward spiral in bond yields leading up to it. That said, today is a good day for mortgage shoppers. However, please proceed cautiously if still floating an interest rate because the cause of the bond rally has come and gone. We won’t see the economic impact of Britain’s decision for some time. That allows plenty of time for profit-taking in bonds and a general correction.