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Hey Everyone, just got this email from my friend Andy Jorgensen at Guaranteed Rate Mortgage. Looks like it’s a BUYING opportunity based on low interest rates and falling homes prices. Time to move on this. Call us 720-446-6325.

“Good morning!  Stocks are getting hammered here as traders consider “when”, not “if”, the global economic meltdown contagion will creep in to US economic picture.  The main culprit this morning: Brexit.  Overnight, the European Commission cut its growth forecast from 1.9% to 1.3%, with the caveat Brexit and China could worsen the outlook further.  The economic growth outlook for Germany, France, Italy, and Spain is being slashed here.  As economic data coming out of China, Japan, and Europe continues fall off a cliff, interest rates around the world are crashing hard.  In Europe for example, most of the interest rates for bond terms out 6-8 years are now NEGATIVE.  The yield on the German 10yr has plunged to just .11% (see attached).  The good news is that ‘Refi 2019’ is getting a major shot in the arm as global rates are pulling US rates along for the ride.  I have to believe the global meltdown eventually enters Fed policy and as much as I hate to say it, the use of their balance sheet.  J Powell should be hailed an American hero for getting the US off of the zero interest rate mainline, but I fear the failure of the Eurozone countries and the US/China tariff wars will eventually force him to backtrack a bit.  Tonight we’ll get to see the Fed Chairman’s first public comments since he slammed the brakes on future rate hikes.  News that President Trump is ‘Highly Unlikely’ to meet with Chinese officials on the tariffs before the March 1st trade deadline just broke, so don’t look for that situation to improve any time soon.   Like I said, the good news here is that interest rates are falling and should be contained in this low range throughout the majority of the Spring/Summer home-buying season.  10yr is at 2.66%, MBS are a up a few tics, and stocks are substantially lower. ” -Andy Jorgensen