Let's recap the week before discussing what happened today. MONDAY : Mortgage Rates Rise as Flight to Safety Reverses Course Mortgage rates rose after the European Union announced over the weekend an official plan to address growing debt problems in their member countries, specifically Greece, Portugal, Italy, and Spain. The long awaited move helped calm the market's fears that a localized fiscal shortage abroad would evolve into a global economic downturn. This shifted investor sentiment on Wall Street which led to correction in stock valuations, Unfortunately the stock market rally forced benchmark Treasury yields higher as traders sold their "flight to safety" positions in government guaranteed Treasuries to fund their purchase of riskier investments. The uptick in Treasury…(read more)
Click Here to Get Great Rates And A Speedy Approval From Lending Tree Without Any Hassels.
Go to Source
|