If the stock markets were a roller coaster ride, we’re at the point where gravity takes charge as passengers’ arms are thrown in the air and the whole screaming mass plummets to toward the earth. Sounds dramatic, right? Thanks to interest rate concerns, the Dow fell by more than 400 points since last Wednesday, notes our most-trusted mortgage expert, Bob Johnson (AKA BobMortgage) — and though such a free fall in the stock market usually indicates a rise in more secure bond investments, we’re not seeing that trend right now.
So, when will the bottom fall out? And should you lock or float? Find out all of that and more from BobMortgage, senior mortgage adviser at the nation’s oldest private lender, Wallick & Volk, in this week’s Mortgage Report: