With the recent economic climate in Europe, the bond market (the market which directly controls interest rates) has seen some volatility. This volatility has led to prices going up, which means rates have gone down. The first sign that Europe has gotten the economic situation under control or a possible fix is realized, rates could potentially shoot up and quickly. The reason prices have gone up is because money from overseas feels that security in our bond market vs. other investments is more secure. Just as over the last few days it looks like Greece and other governments are looking for answers, once they find it the market can quickly correct.

What does this all mean? Well, the markets are extremely sensitive. If you want to buy or refinance act quickly, lock in your loan. Don't take too long to react to the ever changing market conditions. Contact me to get your application ready to make the move and quickly. Just as we are seeing low rates today, next week can see the rates go back up. The best thing to do is contact a mortgage professional that watches and understands the market. Your mortgage loan is an investment, and a .25% in rate over 30 years can mean thousands of dollars lost. I will be more than glad to help you navigate these confusing market trends and simplify your decision, making it about the value realized and savings. Informed clients are the best clients.