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Are mortgage rates related to gold at all? I see gold keep going up. Is that good for rates? SHould I lock now?

by golddigger from Carson, Nevada. Sep 29th 2010 Reply

Melanie Dages (Melanie_Dages)
#22 ranked lender in Colorado - 10 contributions

No, Mortgage rates are not tied to the gold market, however; when gold prices start to flucuate we see that alot of investors pull out of the stock market and purchase precious medals instead. This movement could affect Mortgage Rates.Hope this helps, If there is anything else I can assist you with please contact me. Melanie

Sep 29th 2010
Rudi Hofmann (CaPortfolioLoans)
#282 ranked lender in California - 380 contributions

Rates took a slight bump today due to the 10 year Treasury increase yesterday. Mortgage rates are most affected by Mortgage Backed Securities movement. Although, any financial or major statistic may affect rates.I think you'll only see slight fluctuations throughout this year. This month, the best time to have locked was yesterday. If you did, congratulations.

Sep 30th 2010
Gregorio Denny (GVDenny)
#258 ranked lender in California - 380 contributions

They purchase precious "medals" do they? Really Melanie? Is Michael Phelps selling his, or do you mean "metals"? How exactly does purchasing either medals or metals affect mortgage rates Melanie? Are you confusing your "medals" with MBS?

Sep 30th 2010
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