Thursday, June 28, 2012 - Article by: Christopher Mylin - Rate Drop -
I am not sure how the Supreme Court will rule today but one thing is for sure, Wall Street will be effected which will cause interest rates to change. Any indication of positive thoughts regarding the stock market will have a negative effect on mortgage rates. Corporations, big and small have been delaying Hiring due to uncertainties with health care and after today they will have at least some of their questions answered. This will likely give the market a shot of adrenaline. If we were used to 8-10% mortgage rates this might not have quite the effect but when people are used to hearing mortgage rates from 2-4% every 1/8 adjustment causes quite a ripple effect. Get ready for a at least a few days of turbulence and be ready to act if you are considering refinancing or purchasing a home.
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