As you know mortgage rates have been rising. In a global economy everyone affects everyone else. Here is a roundup of key events this past week influencing our rates:
- European Union: The European Central Bank (ECB) raised key interest rates by 0.25% to 4.0%
- New Zealand: Their Central Bank raised rates on Thursday June 7th
- Australia – Everyone expects their central bank to raise rates
- UK - The Bank of England kept rates at 5.5%. Most economists believe they will raise rates in August.
The international conspiracy has caused US home rates to rise by as much as 0.625% in a very short period of time! Wow.
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