Rates Respond to Political Scandal by Plummeting to 2017 Lows

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Posted To: Mortgage Rate Watch

Mortgage rates surged significantly lower today, as a part of a broad-based market movement following a political scandal that began taking shape yesterday afternoon. You can choose your preferred media outlet to digest all of the details, but the issue surrounds communications between Trump, former FBI Director Comey, and the potential for the details of those communications to be demanded by House Oversight Chair Chaffetz. The most scandalous and sensational endgame to all of this would be potential impeachment–a fact you couldn’t help but hear or see if you heard or saw any news anywhere today. But financial markets are probably reacting more to the fiscal policy implications. Simply put, today’s news headlines cast further doubt on the new administration’s ability to rapidly enact the…(read more)

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