Mortgage Rates Drop At Fastest Pace In Three Weeks After Italian Elections

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Posted To: Mortgage Rate Watch

Mortgage rates moved lower today by the widest margin in over three weeks. The faster-paced movement is courtesy of political tensions in Italy surrounding the country's elections over the past two days. Markets had expected a Bersani victory, which would be as close to a status quo as possible and seen as best for European stability. Instead, Berlusconi may have won control of at least half of the Italian parliament. Markets perceive this as a negative development for EU stability, and such negative developments were among the key contributors to all-time low interest rates in 2012. Mortgage rates themselves, are several degrees removed from the sections of the market that most directly benefit from such "flights-to-safety," but they've nonetheless managed to far outpace any recent attempts...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/297421.aspx

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