“A [Financial] Crisis is a Terrible Thing to Waste”
Thanks(?) to global financial turmoil in the wake of diving energy prices (how’s that for a “pinch me” moment??), investors are running to the perceived safety of bonds.
Result: mortgage interest rates are plummeting as well.
The ten-year U.S. bond is now just above 2%.
Meanwhile, from around 4% a few weeks ago, interest rates on 30 year mortgages appear headed to 3.5%.
The current financial crisis will pass.
But, if you lock in an ultra-low rate on a mortgage — and are planning to stay in your home long-term — you’ll enjoy the benefits for years to come . . .
