Mortgage Rates Are Actually Lower This Week!

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Posted To: Mortgage Rate Watch

Mortgage rates dropped noticeably today, as the underlying bond market benefited from overseas developments. The European Central Bank (ECB) is Europe’s counterpart to the Federal Reserve. Like the Fed, they’ve also dabbled in bond-buying and ultra-low policy rates. In fact, they still haven’t gotten around to hiking rates as a part of the current global economic expansion. Just today, they said they don’t expect rates to rise in 2019 and possibly beyond. Combined with several other comments and updated forecasts, the message from the ECB was that the European economic outlook is downbeat and they’ll be keeping the monetary punchbowl on the table as a result. Central banks’ easy money policies tend to benefit bonds (which translates to lower rates ) and these were no exception. The net effect…(read more)

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