Knocking It out of the Park
Posted On: August 4th, 2009 by James Posted In: Mortgage Programs • Mortgage Rates • Portland Real Estate
So its the heart of Baseball season, and these kinds of metaphors are right on the top of mind. But another piece of economic data came out this morning that would seem to indicate a bottom for either real estate, or this national/global recession. The National Association of Realtors reported a rise in the Pending Home Sales Index of 3.6%. This may not sound like much, but it is positively HUGE when you compare it to the expected rise of only .7%… so this is 5 TIMES BETTER THAN EXPECTED. All of this good news is making the equity markets soar, and when this happens, money leaves the bond market and enters the stock market. What this means to you as a mortgage watcher is that long term interest rates could suffer as a result. Don’t get too greedy! Lock it in if you can!!
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