The Debt Ceiling has resulted in low mortgage rates, get a rate quote today.
For the last few weeks the Debt Ceiling news has rattled the financial markets causing the stock market to sell off. This ebb and flow of money has caused that money to flow into the bond market driving yields on bonds up and the rates to consumers looking for mortgages down. Typically, but not always whenever there is negative economic information coming out the stock market views that as a flight to safety and the money that was parked in stocks moves directly into bonds causing mortgage rates to move lower. Conversely, when there is positive economic news people tend to feel more optimistic and they liquidate bonds in order to rally the stock market and you see the red arrows representing a sell off and the green arrows representing a rally.
The Debt Ceiling phenomenon is going to be coming to a conclusion very soon with a potential positive economic outlook, so rates could poised to move back up as soon as the stock market begins to gain momentum. What should you do as a consumer looking to get a mortgage? Get a mortgage rate quote. Getting a mortgage rate quote while low mortgage rates exist is a smart financial move.
The best best time to get a rate quote does when there are low mortgage rates available for purchasing or refinancing a home.
Low mortgage rates are still available for consumers looking to purchase or refinance real estate. Presently 30 year fixed-rate mortgage money is in the mid-to low 4’s and it’s likely going to stay there until news of the Debt Ceiling’s solution is announced. What’s really important to understand from interest rate perspective is the details of the Debt Ceiling. Its the wording of the Debt Ceiling’s solution that will be the biggest market movers.
For example if the solution for the ceiling this involves any borrowing, consumers and investors alike will interpret that as more bad news for the economy and mortgage rates will likely continue move into a drop/stabilize pattern. It’s more than probable rates will rise. The reason is because bond prices are nearing the all time lows of 2010 and there’s not been any other time in US history were rates dropped that low. In other words we are bottoming out of the very low interest rate market. This is why it is important to get a mortgage rate quote now.
Use the negative economic news to your advantage as a consumer by getting a mortgage rate quote.
There is tremendous opportunity in the marketplace for getting a mortgage loan for purchase or refinance purposes. Many consumers today would stand to benefit by getting a mortgage rate quote if they’re looking for a home mortgage loan with a competitive interest rate.
I’m Scott Sheldon, I am a mortgage loan lender in Santa Rosa with over six years of experience in helping folks get best and lowest interest rates in Sonoma County, CA.