Mortgage Rates Holding Steady Amidst New Eurozone Uncertainty
National average mortgage rates once again appear to be largely holding steady or in some cases fractionally decreasing today, in light of renewed concerns regarding whether or not finance official in Europe will be able to adequately respond to the Greek debt crisis and restore strength to the Eurozone.
Despite the fact that many European leaders once again issued assurances over the course of the past few weeks, new position has once again been announced. As it stands, German President Angela Markel has spoken out against a single line of the proposed deal, which has been suggested as taking liberties in telling the European Central bank what to do.
The objection is essentially attributed to nothing more than the wording of a specific area of the proposal, which in turn has caused many to speak out regarding Germany’s somewhat unjustifiable standpoint. Indeed, some have gone so far as to suggest that the opposition is nothing more than political muscle-flexing, with Germany being adamant to display that nothing is allowed to happen in the Eurozone now or in the future without their express consent.
Whatever the reason and justification, the level of uncertainty is sure to hold mortgage rates at their current levels or perhaps even push them a point or two lower. However, with a deal being expected any day now, those looking to purchase or refinance would be wise not to waste any more time.
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