🏡💥💵Happy Monday!! Hope you had a great weekend. Here is this week's mortgage market update.
Here are the highlights:
Interest rates have come down over the last several weeks and even more so in the last week. Rates are in the high 3's to low 4's and the lowest they have been since about January of 2018.
Fed Chairman Jerome Powell surprised everyone last week announcing that they will not increase rates at all this year while anticipation was for 2 rate hikes.
Lower rates means more buying power for buyers & an opportunity for current homeowners to potentially lower their monthly carrying costs.
Reports due out this week: Housing Starts, Case-Shiller Home Price Indices, Initial Jobless claims and the Fed favorite: Personal Consumption Expenditures (PCE)
If you have any questions or if I can help with anything, please do not hesitate to call.