Excerpt from: Flagstaff Mortgages
|
 |
| June 06, 2008 | | Good News for Mortgage Rates? | Today's lead story for many news outlets is the increase in the unemployment rate. Providing a silver-lining for home buyers; however, the employment news improved the bond market, lowering home loan rates this morning. A contravailing trend continues to be inflation. Fuel prices and news about European currency moves spurred inflation fears this morning, indicating that the lower rates today may not be here tomorrow. Be in touch with your lender to make sure you know when to lock your rate if you are involved in a transaction now. If you are on the verge of buying, now is the time to get the best rates. Afternoon update: Oil prices leapt to a new high at $139 per barrel -- over twice the one day increase previously seen ($5 was the prior record, today it was over $10). In reaction, the Dow Jones Industrial Average tumbled nearly 400 points. So far this year, over 300,000 jobs have been lost -- with the news about oil and currency, that is only likely to get worse. This does not bode well for continued low mortgage rates. | |
| |
|
|
Email to a Friend
