2015 Q3 and Beyond

We're currently in Q3, and there is a lot in store for the mortgage market in the next few months. In early 2015, we saw rates on conforming loans stay at right below 4%. Rates started rising in May and June. After the 4th of July, we saw a slight dip in rates once again. Undoubtedly, the rates have been affected by the recent turmoil in Greece as they voted against the EU's bailout term conditions. 

You may not understand how the events in Greece are affecting mortgages originated in the United States, so we'll explain it for you. Essentially, the global investors are worried that Greece's instabilities will cause turmoil in the rest of Europe, which will cause MBS to be purchased. This has caused the rates to dip back below 4%. One other factor is the fact that China's stock market has plummeted.

Rates are always affected by both international and domestic factors, and the turmoil in Greece will certainly pay tribute to that. In the coming months, as Greece's situation gets sorted out, there will be more clarity in terms of the mortgage industry.