I could be wrong but it seems to me that ever since Iran grabbed the British Sailors, certain financial markets have been on pins-and-needles. As a result of this uncertainty in the markets and the concerns about the effects of this event on oil prices among other things, I have noticed the 30 year fixed mortgage rate increasing over the past two weeks. It hasn’t gone up a lot but it is noticeably higher than it was before the incident in Iran. The reason I am painfully aware of this is because I have a number of clients for whom I am watching interest rates and I have seen the rates I was quoting two weeks ago slip away a little each day. From what I can tell today, it looks like this two week trend may be coming to an end today and hopefully the rates will start to improve based on more traditional, even handed factors instead of this Pirates of the Persian Gulf story that fortunately has ended well for the British and home owners all over America.
