Fear is Back in the Market! That might be bad for your 401k; but it’s good for Mortgage Rates.
Fear of slow economic growth in China, a gloomy outlook for U.S corporate profits, global unrest, and an end to easy monetary policies caused a 318 point drop in the D.J.I.A. on Friday. Money flew from the stock market to the safety on bonds pushing prices up and yields down. Mortgage rates are at the lowest they’ve been this New Year and close to 2013 lows.
Purchase or Refinance…If either of these are among your New Year Resolutions, Now is the time to explore your options!