We just received this note from Cathy Haddad, a mortgage broker with Atlantic Home Loans.The 10-year bond dropped below 2% this week as a result of poor economic data fromEurope, China and the US. Additionally, and almost hard to believe, the world financialmarkets are rattled by the potential economic implications of a spreading Ebola virus.Crazy that Ebola is actually affecting bond and mortgage rates! Let me share with youthe way I see it: While the economic data clearly doesn’t present a rosy picture, mostof that economic risk (and downward interest rate pressure) is now built into bond andmortgage rates. This means that we are unlikely to see rates drop further in the nearterm based purely on economic data.
What’s my message? Take advantage of recently released economic data and ‘‘theworld is ending” hysteria and lock in your mortgage rate now. While rates have beenlow for quite some time, this recent cratering of mortgage rates is providing you withwhat may be one last opportunity to refinance your mortgage. My message is the sameto those looking to buy a home: find a home and lock in what may be the lowest ratesyou’ll ever see. NOW is the time 🙂 Cathy Haddad
Sales Manager & Home Mortgage Consultant
848.203.2272 – Cell