What’s The Current Trend In Mortgage Rates?
Although the market is improving ever so slightly, mortgage rates remain relatively unchanged.
What’s Happening In Financial Markets?
Continued negative sentiment headlining out of Europe brought some investors to the safe haven trading in bonds. As we know, Spain, Italy and Greece have been experiencing a debt crisis for some time with their economies contracting year over year. However, the economically supporting countries of Germany and France are showing signs of “wear” and have reported worse than anticipated negative GDP growth. The crisis is far from over.
How Does This Affect My Rate?
Even though we saw a slight uptick in bonds due to the economic news out of Europe, it was not enough to affect bonds and improve rates and pricing. Following global economic news has proven unpredictable at times.
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