Hot news from AZ Home Help:
Posted To: Mortgage Rate Watch
Mortgage rates improved today as the situation in Japan deteriorated and a feeling of panic poured through global markets, spurring on another flight to safety in risk-averse government bonds. A flight to safety happens when investors are nervous about owning risky assets like stocks, but do not want to miss out on earning a return on their funds, so they allocate their money into risk-free government guaranteed U.S Treasury debt to provide a safe-haven AND an investment return. As benchmark Treasury yields fall on "flight to safety" buyer demand, prices of mortgage-backed securities move higher in unison. This allows lenders to reprice their rate sheets for the better and gives originators an opportunity to offer fence-sitting borrowers lower mortgage rates or more competitive closing costs...(
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www.mortgagenewsdaily.com - For more real estate news visit our website at http://www.AzHomeHelp.com
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