No Major Tumble For Financial Markets

We’re still waiting for Democrats and Republicans to come to an agreement to extend the debt ceiling.

So far, the markets are not panicking. There’s been no explosion in the interest rates paid out by bonds.

Mortgage interest rates held steady over the weekend.

Still, the longer we have to wait for a deal, the more mortgage interest rates are expected to rise.

David Costa writes: Mortgage rates are heading meaningfully higher today after a weekend in which the political parties in Washington made no progress towards a debt ceiling increase and spending reduction plan. Fear is a major mover of the investment markets and today both stock and debt (bond) markets appear to be under serious downward pressure today. Home purchasers or refinancers, whose mortgage interest rates depend on the movement within the mortgage-backed securities (mortgage bond) market, should strongly consider locking-in their rates at current levels.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (, he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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