The Italian banking crisis as well as fears Italy may exit the EU has sent global markets into a tailspin. The fear trade is on which means money is fleeing the equities markets and racing towards the safe haven of bonds. Particularly the U”S Treasury market. This is causing mortgage interest rates to drop. In the last week alone we’ve seen a 0.25% reduction in mortgage rates which is a seismic shift in the mortgage world.
If you’re a home buyer or you’re working with one, now would be a great time to lock in a rate because we don’t expect today’s lower rates to last. If you have questions or concerns contact Coastlend Mortgage at 843-388-5763, or by visiting us online at www.coastlend.com