US Mortgage rates tied to Greece???

Mortgage and Lending with US Mortgages - David Shamansky NMLS#392126

US Mortgage Rates tied to Greece???

As odd as that sounds it is exactly whats been the MAJOR player, concern, in the market for the last several days. All eyes have been focused on Greece.

  1. Will they pass the austerity vote
  2. will they default on their debt
  3. what is going to happen to the country and its finances and that of the euro?

With so much swirling around its hard to believe that a country with a much smaller GDP than CA can play such a pivotal role but it has been.

I will get to todays news but more importantly want to ask this question...

"Why do you think this has been causing such an issue"?

Greece is a small country, obviously not tied directly into our economy (albeit we all work together in some aspect) but my opinion (and the 2.5 cents its worth) is there are eerily similar facets to our countries. We...

  1. both have huge amounts of debt to contend with
  2. economy's that are hurting
  3. high unemployment
  4. and MOST importantly, their government, like ours, is always trying to get into business when its job is to focus on governing.

My opinion is that the US is also going to face its day of reckoning and all eyes are focused on Greece to see what it did right, what it did wrong and learn from that so we can make more of the right choices to help rebuild our economy, increase employment, reduce our debt load and get back on the road to recovery.

With that said here is the rest of today's news...

  • MBA Mortgage Index: Actual -2.7%, prior -5.9%
  • Pending Home Sales: Actual 8.2%, prior -11.6% (consensus -0.6%)
  • Fed will purchase $2-$3B worth of 2018-2021 maturities through POMO
  • Treasury will auction $29B 7-yr notes

The other factors driving markets are that the 2y and 5y auctions did not do that well earlier this week.

Its not all gloom and doom but it should be a RESOUNDING wake up call that there are opportunities in real estate all around us. And while we have solid financing still available and incredible 50yr low rates, the time to act is NOW as these will not be here forever and likely never again in our lifetime!

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Colorado 1st Time buyers, if you are ready to stop renting, get the many benefits from home ownership, or maybe your a current homeowner looking to move up or maybe looking into what it takes to become an investor in this incredible market, that WILL create millionaires, and you are looking for a strategy, answers and direction, please feel free to call or email me. My 22yrs in mortgage lending and 30+ years in finance gives me an in depth knowledge, critical to helping others and making their dreams go from dream to reality!

David Shamansky
"Positive reinforcer, promoter, success coach, entrepreneur, team builder, wealth builder, blessed individual, business leader and professional lender"

US Mortgages
6855 S Havana St Ste 520
Centennial CO 80112
Equal Housing Lender

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