Homes For Sale

For this week, the direction trend in mortgage rates is all about Greece. The Greek parliament is scheduled to vote on new austerity measures Wednesday, a precondition of any European Union bailout. It is almost guaranteed that this measure will pass, as Greece has no other real options, and Germany and France have made it clear that they will not sign on for any more debt relief if the measure doesn’t pass. The mobs in the street are not likely to appreciate this, and the investors in Greek debt aren’t happy either. Creditors, including all the big European and US banks, will lose about 70% of their initial investments.

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