Interest Rates drop overnight!
According to Inman news, Interest rates dropped a bit last night. This is great news for investors, home buyers or homeowners in the process of refinancing their homes.
The news wasn't all fantastic as Former Fed Chairman Alan Greenspan said that a possible recession could be heading our way next year. Mr Greenspan no longer has any say in market, but his warning certainly is respected on the financial market.
What does it mean? If you're thinking about reinancing or buying than sooner is better than later!
Here's the article from INMAN NEWS:
Long-term mortgage interest rates fell further Monday, and the benchmark 10-year Treasury bond yield sank to 4.63 percent.
The 30-year fixed-rate average dipped to 5.74 percent, and the 15-year fixed rate was down at 5.5 percent. The 1-year adjustable slid to 5.36 percent.
The 30-year Treasury bond yield decreased to 4.73 percent.
Rates are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average lost 15.22 points, or 0.12 percent, finishing at 12,632.26. The Nasdaq was down 10.58 points, or 0.42 percent, closing at 2,504.52.
Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time.
STAY TUNED, we have found some amazing real estate investment deals in San Diego, and will analyze them in future posts!
Thanks for reading
Marc
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