Today’s comments will sound like a broker record, but again today the U.S. markets are trading on the uncertainty in European markets. The DOW is lower over 200 points and the 10 year note is higher in price by over 1 point. Interest rates on mortgage loans have fallen back to 4.50% and 4.625% for 30 year fixed rate loans.
Again, the reason for this is the uncertainty in the European markets. Any perceived resolutions to this situation will cause a quick and steep reversal.
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