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Home Insurance Homeowners Insurance

Report: Financial Sector ‘Rooting’ for Mortgage Rate Hikes

by Finance Guide Today
in Homeowners Insurance
Report: Financial Sector ‘Rooting’ for Mortgage Rate Hikes

As mortgage interest rates continue to remain at historic lows, potential homebuyers are loving it and the financial sector is hating it.

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“There’s virtually nothing in the financial services area that’s benefiting from continued lower and lower rates,” Barclays CEO Bob Diamond said at the Milken Conference in Los Angeles on Monday. “[We are] rooting for higher rates.”

Moreover, depending which side of the coin you’re on, you’ll either be pleased or disappointed to hear that experts do not believe a move to higher interest rates will happen “quickly.”

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