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I was not aware I could write a review for David! It has been such a pleasure working with the whole team ! Even though... [read more]
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David and Jan work well together. When I have questions David is very patient with me. He will explain the process and the... [read more]
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David and team were awesome! They made it possible for us to get a loan for a house at lightning speed. David is also very... [read more]
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David is as knowledgable as they come and more than willing to share that knowledge with his clients. He helped make sure I understood not... [read more]
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Dave & Jan were amazing at helping us buy our first home! Dave spent over an hour with us before we agreed to anything just... [read more]
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World class experience w/David Haley and team! We hit it off right away and he had us get all of our docs in order just... [read more]
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March Starts with a Jump in Mortgage Rates

The big news as we start the month comes from pharmaceutical giant Actavis, which announced back in November that it would buy Allergan for $66 billion. In order to raise the money for this purchase, the company issued a bond deal for something in the area of $27 billion. This is the second biggest corporate bond deal ever made, beaten only by Verizon’s $47 billion deal.

This is a lot of debt to hit the market at once. To give it some perspective, consider that the last deals to have made significant waves amounted to only about $11 billion and $6 billion. Since these corporate bonds have an indirect link to the bonds that dictate mortgage rates, all of this debt is bad news for the housing market.

Unfortunately, with big-ticket events on the horizon, we likely cannot expect the market to correct itself anytime soon.

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