Market Turmoil

What just happened in China? The drop in stock prices in China set off financial tremors around the globe. How will it impact mortgages here?

Mortgage rates are set to open lower in 2016, with stock markets selling off around the world, creating demand for the safe-half of U.S. Treasuries and other fixed income assets. The drop in global stocks overnight was triggered by slowing manufacturing in China, with trading in Chinese markets actually halted after dropping 7% on the first trading day of the year.

So the economic news is good for US mortgage rates - and for US vacationers traveling to Europe, Asia and the Middle East. 

Keep your eyes on the macro- economy in the days and weeks to come!

Happy New Year!

Happy Investing!

Mortgage Rate Lows

The average for 30-year home loans dipped below 4% for three weeks last month, setting off a small wave of mortgage refinancing. According to the Mortgage Bankers Association, requests to refinance homes made up more than half of all applications last week.

Interest rates are still near 2014 record lows. It is a great time to think about buying or refinancing a home.

Happy Investing!