North Korea has now said they’ve decided not to launch a missile at Guam, which had previously caused a flight to safety. Also, uncertainty surrounding recent political remarks from the Trump administration continue to cause uncertainty in the investment market making investors less willing to invest in risky assets but instead choosing to put their money into more stable assets such as government bonds. The raising bond prices are thus causing interest rates to remain low.
Strong economic data is weighing on Bond prices this morning, while mortgage rates continue to hover just above all-time lows.
It’s hard to imagine that rates will go much lower than this anytime soon so the prevailing wisdom is to lock yourself into the low rates now if you can.
If you would like to speak to one of our preferred lenders about what this could mean to you in the purchase or refinancing of a home, please let me know as I would be happy to help. Steve Mix at Mortgage Network firstname.lastname@example.org