Tucson Mortgage Update From Fairway Mortgage
John Saavedra with Fairway Mortgage
Rates continue to stay in the same range and tick up or down lightly every day. News from Italy spooked the markets and concern that Italy will become the new Greece are increasing. This will typically move money into the US bond market but, this week a bad 30 year treasury auction stopped the money from flowing and kept interest rates flat. Rates are still great!
The sacrifice and dedication of our troops grant us the opportunity to do what we do every day. Enjoy the every minute and be grateful. Happy Veterans Day. Have a great weekend.
John Saavedra
5151 E Broadway Blvd suite 1700 Tucson, AZ 85711
Office – 520-749-3900
Cell – 520-331-4060
Fax – 520-760-7335
www.JohnSaavedra.com
Tucson Mortgage Update
John Saavedra Fairway Mortgage
News out of Europe helped bonds then hurt bonds then helped them again this week causing interest rates to actually get slightly better on the week, but nothing special. First, everyone thought Europe was not going to get a deal together to help Greece, that brought money into our bonds. Then they got a deal and rates jumped higher. Then, Italy had a bond auction and it appeared that the Euro deal didn’t really help investors feel comfortable and that is bringing money back to the US today helping rates end the week better than where we started.
John Saavedra
5151 E Broadway Blvd, Suite 1700 Tucson, AZ 85711
Office- 520-749-3900
Cell- 520-331-4060
Fax- 520-760-7335
www.JohnSaavedra.com
Tucson Mortgage Update
John Saavedra Fairway Mortgage
Interest rates ticked up just a bit this week as problems in the Euro zone seemed to ease. Slovakia agreed to ratify the Euro rescue fund, and Greece came up with a plan to have investors take a principle reduction on their investments to help their problem. Stocks rallied most of the week to get closer to ending the year flat which helped investors pull money from bonds and put their money in stocks. When bond prices go down, interest rates go up.
John Saavedra
5151 E Broadway Blvd, Suite 1700 Tucson, AZ 85711
Office- 520-749-3900
Cell- 520-331-4060
Fax- 520-760-7335
www.JohnSaavedra.com
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