Interest rates just went down to 4.63%, thanks to Greece.
This is very good news for real estate investors as well as the general housing market.
Why?
Markets are down in Europe because of turmoil in countries like Greece. Also it could be because of low inflation. But will inflation stay low?
Probably not, if history guides us.
However, it is a fluid situation and a roller coaster ride. Some experts think the Federal Reserve will keep interest rates down for a while. For how long, we don't know.
That means it's a good time to refinance.
Read Zillow's News on Fixed 30 Year Mortgage Rates
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- Jose Ferreira: Greece's Pieces (huffingtonpost.com)
- Bank of England Divided on Inflation Outlook (abcnews.go.com)
- China expects inflation to rise in May, June (seattletimes.nwsource.com)
- Go ahead and default, Greece! (money.cnn.com)
- Crisis-hit Greece struggles to attract tourists (msnbc.msn.com)
- Greece crisis: warning to travellers over further disruption (telegraph.co.uk)
Mortgage Insurance » Mortgage Interest Rates Continue To Fall
I would be surprised if mortgage rates don't continue to fall now that Freddie Mac and Fannie Mae are owned by the government. The Fed has been trying to push down interest rates all year and now they have the means to do so (I think …
Greece's debt crisis may push down mortgage rates here « HousingWire
Blame Greece's debt crisis for contributing to the recent drop in your stock portfolio, but give it credit for something that could benefit consumers: lower mortgage rates. Last week, rates on fixed-rate mortgages fell to their lowest …
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