February 24th, 2011 7:17 PM by Kemmer Daniel Matteson
Watching the protests in the Mid-East and the resulting fears of an oil crisis creates a drop in interest rates.
With oil pushing $100 a barrel the resultant increase in costs to business not to mention the gas pump for the average consumer could create an economic downturn.
With the stock market losing ground already there is a flight to safer grounds, which have been bonds and mortgage backed securities. I have seen rates drop this last week almost a full point.
This means a great opportunity to lock in new financing terms or purchasing at a lesser cost. Home affordability is key to the success in the US economy and is the missing piece to the recovery. We will see ups and downs.
If you have not locked in a low fixed rate time to revisit the opportunity NOW. Give me a call.