July 16, 2019
By the middle of July, we are definitely in the midst of the heat of the summer. And many times, when the temperature rises, so does the heat of the markets. But not all markets are equal in this regard. For example, this summer the real estate markets are heating up because of lower interest rates. This is especially true of the refinance market. In addition, the stock market has moved into record territory.
Meanwhile, it looks like some of the trade wars are cooling down, rather than heating up — though we have seen that these battles can turn around very quickly. Some analysts have indicated that the end of the trade wars might result in a huge boost for the stock markets. However, we are not so sure. While we think the initial reaction would be positive, if the result was higher interest rates, this could dampen the optimism.
Of course, this line of reasoning is entirely hypothetical. There is little doubt that the threat of trade wars has contributed to the lower interest rates we have seen. But would the end of this threat cause rates to rise? Perhaps. Either way, if you are thinking about purchasing a home or refinancing, it would be best to act with urgency because as trade wars can turn on a dime, so can interest rates.
Source: Origination Pro
Call us for loan advice:
Amerimutual Mortgage is an esteemed mortgage brokerage located in Queens NY and serving NYC, Bronx, Long Island, Brooklyn, Staten Island and Westchester.
Backed by a long history of integrity and driven by a commitment to enrich the community of Astoria Queens and the surrounding neighborhoods of Queens, Brooklyn, NYC and Long Island, AMERIMUTUAL Mortgage is family-owned and operated local business that is proud to make a difference by matching home buyers with the right mortgage products for their needs.