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When things get crazy on Wall Street, it’s often good for real estate.
Uncertainty in the stock market attracts investors to the stability offered by Treasury Bonds.
Higher demand for bonds means lower interest rates which is obviously good for real estate buyers.
“Turbulence in the financial markets is putting significant downward pressure on rates” said Sam Khater, Freddie Mac’s chief economist.
After peaking at just over 7% at the end of October, rates have been trending down.
The current rate on a 30-year loan is 6.6%. A year ago it was 4.16%.
