Home Loan Rates Improve

Last Week in Review:
Home loan rates modestly improve amidst rout in Stocks.

Folks didn’t receive that memo this past week as the threat of rising rates and some not-so-rosy outlooks from firms like Amazon definitely frightened investors, who fled from Stocks.

All three major Stock indices – the Dow Jones, S&P 500 and Nasdaq sold off hard this week and are now flat-to-negative for the year.

Even a better than expected 3rd Quarter GDP reading of 3.5% along with a stellar consumer spending reading on Friday could not help Stocks avoid a selloff at the open.

The Bond market welcomed some of the money from the Stock selloff, thus helping home loan rates improve slightly.

Bottom line:

  • The markets are very volatile and the improvement in home loan rates this week is relatively modest when considering the magnitude of the stock market decline.
  • With home loan rates off the highest levels of 2018 – now is a wonderful time to secure financing.

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