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For Henry County Mortgage Shoppers, Bad News Isn’t Always Bad
If you keep track of the ebb and flow of U.S. economic news, you might also be aware of how it relates to some things that happen here. Particularly in the way Henry County’s mortgage rates have been responding to the ups and downs of announcements from Washington, the cause and effect relationship has settled into a fairly predictable tango. Last week was no exception, with a dip from afar leading to some more good news here.
The less-than-buoyant news from Washington came in the form of what CNBC called a “weak” Gross Domestic Product reading for the second quarter. That news caused a drop in mortgage interest rates, which triggered an increase in home purchase applications (now 13% higher than a year ago) and a 10% increase in refinance activity from the previous week. Any time Henry County’s mortgage interest rates fall, it of course it spells opportunity for both buyers and sellers here: the asking price for a home in Henry County is one thing, but sooner or later, most prospective buyers get down to what the monthly cost of buying will be—and at current historically low interest rates, that number is often surprisingly affordable.
Why a drop in the U.S. GDP—which ... more

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