Understanding Mortgage Rates | dripp inc | Home Equity | Refinancing and Remortgage Guide

Good Afternoon,

This morning’s report from the Institute for Supply Management (ISM) came in exactly where analysts expected. However, the inflation index of the report came in at a 6-month low, which reduces the risks of inflation! Declining oil prices also assisted this decrease in inflationary concerns. Oh yes, mortgage rates trickled their way down again today.

Here’s the inside Dripp…

Today’s Institute for Supply Management (ISM) report came in exactly where analyst’s expected, which was below the 50.0 preferred balanced reading. This basically means that the manufacturing part of our economy is contracting instead of expanding, which pushes investors to get out of the stock market. This is good for mortgage interest rates as long as investors move into the bond market, which they did.

Another important aspect of the report is the inflationary reading that showed the lowest levels in six months. Accompany that with oil and gas prices decreasing and we got us a very nice bond market rally!
Yes, rates decreased twice today! Homeowners have a good chance to jump in the market if they need to remortgage or take out equity.

If you would like for us to quickly help you see what you qualify for, fill out the following information and we will give you a call within 5-10 minutes!

cforms contact form by delicious:days