Over the last month, mortgage rates have ran up to the highest level in the last four months. Though rates are still very low historically, the perception has changed and those waiting on the sidelines for rates to drop lower, are now reassessing and wondering if we’ve already seen the bottom in mortgage rates. What has happened to change this perception so sharply? Several things, but as has been the case for a long while, Europe is the biggest factor. The markets are now optimistic that the continent has finally gotten its act together, and are going to come together on a solution before the train goes off the cliff. Up until now, the European Union has been split between the interests of the haves, and the have-nots. The financially solvent countries like Germany and Austria had little appetite for hurting their economies by bailing out those country¬ís that were…

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