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06Aug

How the recent Italian Political "crisis" helped save money on your mortgage

Recently Italy had political turmoil that affected the bond markets and stability not only in Europe but in the United States. An inconclusive election increased Italy bond yields and scared people into moving their money into safe haven assets in the US, specifically the bond market. As a result, the yields in the US bond market dropped to new recent lows. Your probably wondering, how can an international crisis help me save money? Well, this is positive for US homeowners because it allows them to lock in new interest rates and receive lower payments on their mortgages when purchasing or refinancing. This a classic example of how international events play a role in your mortgage payment. In this case it helped homeowners obtain less expensive mortgages.

Most likely you are not watching international news stories with an eye towards your mortgage.  However, most seasoned mortgage professionals are looking at events that affect this market!  We are in a highly interconnected financial world and any "event" can switch on a "flight to safety" trade which can save you money!   Have a relationship with a mortgage professional so that you can take advantage of these events when they occur.  Sometimes the benefit only lasts a few days or hours.  Those who are prepared can take advantage.

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PMI Expert

PMI Expert

Working for 20 Years to save YOU from unnecessary expense!

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