Posted To: Mortgage Rate Watch
Mortgage rates are ending the day in very similar territory to yesterday’s latest levels but have had something of a wild ride between now and then. At issue is the ongoing drama between Greece and its Eurozone creditors. There was some risk heading into today that a temporary agreement would be reached to extend Greece’s bailout agreement, and indeed that’s behind the volatility. But why would a Greek bailout extension be a risk for mortgage rates? Greece has actually played an integral role in domestic market movements over the past several years. This most recent flare up is partially responsible for the low rates we’ve enjoyed. Long story short, the “drama” means increased risk that Greece will default, which in turn benefits the Eurozone’s most stable sovereign debt, such as Germany’s…(read more)
Via:: Mortgage Rates End Unchanged Despite Massive Market Volatility
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