The main topic dominating U.S. news right now is, obviously, the upcoming Presidential Election; it’s not just the presidency up for grabs, we’re talking about potential shifts in power for senate seats, major laws, Supreme Court, etc. You’ve seen the headlines.Verify your mortgage eligibility (Mar 1st, 2021)
How does this affect the mortgage industry?
To put it simply: It could move rates, and sharply! Anytime global news threatens to change political climates, uncertainty / general instability causes financial turbulence. It’s not a one-to-one connection, but bad news for investor confidence tends to improve rates, and vice-versa. Good news, depending on the impact, can shift rates as well.
The bottom line: Our current October rate climate is incredibly beneficial to many homeowners. In other words, we don’t want these near-record low rates to end. But they might, and before they do, you’ll want to take advantage with your refinance or new home purchase.Verify your mortgage eligibility (Mar 1st, 2021)
Prospect Financial Group
948 Garnet Avenue
San Diego, CA 92109
NMLS: 349089 | BRE: 01837707