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Hurricane Katrina's impact continues to loom large over markets.
After the initial storm was forecasted to miss New Orleans proper, expectations were for the damage to be minor.
Then the floods began. And then the infrastructure collapsed. And then refineries shut down.
And there is more to come.
While Katrina is a human tragedy, the storm is leading to market speculation about the economy, and how long we will feel its effects. The refinery closures are creating a sense of panic about oil prices and that is pushing mortgage rates lower today.
But that doesn't make this a good day to float. There is a ton of inherent volatility in the market right now and anything can happen at any time.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
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