The fears of the potential bankruptcy of “PIIGS” (Portugal, Ireland, Italy, Greece and Spain), sent traders scrambling from risky stocks into the US treasuries market on Friday. Thus, whenever this happens, mortgage intest rates always drop. Checkout this great article from CBS Moneywatch: http://moneywatch.bnet.com/saving-money/blog/home-equity/mortgage-interest-rates-could-hit-rock-bottom-today/2135/. With rates close to a 1-year low, it’s a great time to refinance or jump into homeownership/property investing.
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