No, it’s not good when already volatile markets lurch downward like they’ve done the last couple days.
However, astute financial observers know that such turbulence is also accompanied by a “flight to safety” — in this case, U.S. debt.
Doesn’t the U.S. have a $13 trillion (and counting) deficit, and many more trillions in unfunded obligations?
Doesn’t really matter, at least for the moment; in the land of the financial blind — that would be the Eurozone at the moment — the one-eyed man is King.
What does that mean for the the housing market?
A weaker economy — if that’s indeed what’s ahead — isn’t great news.
However, the silver lining is that anyone who’s on the cusp of refinancing can do so at rates that are temporarily “on sale.”