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Last week's terrorist attacks in England barely moved markets in a surprising change from past attacks worldwide.
Even as the country remains in "Criticial Alert" status, money is flowing to the U.K. on remarks from the Bank of England, and a foreshadowed interest rate increase.
In the past, terrorism was considered a threat to financial markets and one that created Safe Haven Buying. Right now, not so much. So, one of two things is happening:
Either way, the global non-reaction should change our perspective of how mortgage rates will respond if the United States faces a similar threat in the future.
Source Country on highest alert after carnage averted The Sydney Morning Herald James Button July 2, 2007, 6:29 A.M.
http://www.smh.com.au/news/world/britain-in-grip-of-terror/2007/07/02/1183228964665.html
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
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