Seemingly defying economic logic – if there is such a thing – fixed rates on home loans continued to fall to lowest marks in almost two years. How can this be? Oil prices are very low but the economy appears relatively strong with almost three million jobs added in 2014, the most since 1999 and unemployment rates have dropped to 5.6 percent.
According to many experts (!), many of the factors holding rates down are international as the economies in many European countries and Russia remain weak.
Low oil prices, low mortgage rates, rising employment – enjoy it because the one certainty is that change will come.