Current Events effecting Mortgage RatesDo current events in the Middle East have you asking lots of questions? Let me answer a few about mortgage rates.
The initial response to the U.S. drone strike that killed a top Iranian military leader was a slight drop in mortgage rates. This occurred as investors left the potential volatility of the stock market and flocked to the relative safety of bonds and mortgage backed securities.
While the world watches events play out, continued uncertainty will likely keep rates low and perhaps push them even lower.
How might this affect the markets long term? As we’ve seen in past conflicts, the prospects of rising oil prices could be inflationary, and that would typically spark a move to higher rates.
If you’re thinking of a purchase or refinance in 2020, you may be tempted to wait the uncertainty out. I encourage you to start working on your next steps now. By preparing early, you’ll be able to act quickly when the time is right for you. In the interim, I will continue to monitor any changes in rates. If you’d like to talk about it, please reach out.
Meanwhile, I wish you peace and happiness in the new year.
RE/MAX Properties Inc.
2630 Tenderfoot Hill Street
Colorado Springs, CO 80906
Learn more about Colorado Springs Real Estate and search all available homes for sale at http://www.movetosprings.com