Looking back to the beginning of September, it’s remarkable that rates have dropped by a full percentage point. A quick calculation shows that this translates to roughly $84 less per month for every $100K borrowed. For a $700K loan, that’s nearly $600 in monthly savings.

This morning, the International Longshoremen’s Association (ILA) went on strike, potentially affecting up to 50% of U.S. imports, with Walmart holding a significant share of these goods.

Initially, you might expect the bond market to react negatively due to potential inflationary pressure. However, with global tensions on the rise, savvy money managers are turning to bonds as a safe haven.

And that’s exactly what’s happening. While yesterday’s stance was “Lock, baby, lock,” I held off—and rightly so, as the bond market has improved, positively impacting mortgage rates.

Sometimes, what seems obvious at first glance deserves a closer look (that’s a headline I’ll use for the next update).