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
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.