We are seeing rates a little higher this morning as the volatility continues in the market. With consumer spending high so far this holiday season we are seeing the stocks increase continuing to rise. Remember, when the stock market increases the bond market normally decreases which causes mortgage rates to increase. With the “Fiscal Cliff” looming I am advising my clients to lock on short closings dates because we will experience volatility in the next couple weeks.
WHAT’S HAPPENING?
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