Rate Update

"Mortgage rates are coming down this morning after some bad economic news around the globe – including union strikes in Greece and Spain, concerns over the condition of European Banks, and China's lending practices.

In the US, Consumer Confidence came in well below expectations, highlighting public concern about the overall economy and job market. While this is not good for our economy it is good for mortgage rates.

I recommend floating. I will keep you posted if a change of course is needed."