Wednesday, August 3, 2011


The markets' reaction to the so-called "debt solution" resulted in the stock market tanking (down 250+ points yesterday), and the bond market rates dropping.  This brought about a drop in long term fixed rate mortgages, and we are pushing back to the lows we saw at the first of the year.  Take advantage!

Monday, August 1, 2011

Debt deal or Debt Debacle?

Congress supposedly has legislation to end the debt "crisis".  As to whether this contains any real substance or is just political fluff, remains to be seen.  The markets appear to be happy that a resolution is in hand, but I have serious doubts that this one will fix anything.  Rates were down on Friday, but will probably pop back up today on the "good" news.  Get your lock requests in early.


Friday, July 29, 2011

Debt impasse drops interest rates

The continued impasse in Washington has depressed the stock markets and in turn, has dropped interest rates by 1/8th.  This may not last past next Tuesday, so if  you were thinking of locking a rate in, now is the time.