“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.