“Told ‘Ya So” Department

You read it here first — by four days, to be exact:

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. The silver lining is that anyone who’s on the cusp of refinancing can do so at rates that are temporarily “on sale.”

–“Flight to Safety = Rate Drop: Market Melt-Down Creates Refinancing Opportunity“; City Lakes Real Estate blog (5/20/10)

Now compare that with what’s in Monday’s Wall Street Journal:

The financial turmoil in Europe is providing an unexpected windfall for American home buyers, as international money seeking a safe haven is flowing into the U.S., pushing domestic mortgage rates to the lowest levels of the year and back near 50-year lows.

–“Mortgage Rates Decline“; The Wall Street Journal (6/24/10)

Nice scoop, if I say so myself!

P.S.: No, I’m not clairvoyant — it’s typical for print articles to post online the night before publication.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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