This is a YouTube video titled "🚨 Economy Impacting Interest Rates 🚨" containing a monologue or commentary about recent volatility in mortgage rates influenced by European Covid lockdowns and upcoming inflation reports, recorded on November 28, 2021. The speaker discusses the importance of locking in mortgage rates amid economic uncertainty. There is only one speaker and no mention of Derek McGowan.
Volatility in the mortgage world today. So overnight, the Austrian Chancellor mentioned they're going to lock down Austria because of growing Covid concerns and many other European countries might follow. That created ripple effects felt here in the US when there's weakness in the economy, it actually helps rates. So mortgage rates opened a little bit better today. Anyone we didn't previously have locked in? We made sure locked in then by the end of the day. The whole market's focus now is shifting towards the inflation report coming out next Wednesday. Many people think inflation be super hot again. That hurts mortgage rates. There was a window in time. We locked everyone in before things got worse. That's why it's super important to have great help when you're locking in an interest rate.
