TODAY’S INTEREST RATES
Interest rates move slightly lower this week but still staying in the same narrow range we have seen.
May’s June Jobs reports came out last week and traders continue to monitor the data closely.
As economic numbers improve, the FED will eventually taper their bond purchases which will push rates higher.
In 2013, when the FED tapered their bond purchases interest rates saw one of the fastest increases in history.
The FED has went on record that there will be more notice given this time around when they eventually taper.
Jobless claims are at pre-pandemic lows.
Job creation numbers were at 559,000 for May but were below the projected number of 650,000. That being said, job creation was still much higher than April’s 278,000 new jobs.
As these numbers continue to go higher with the economy moving back to more normal conditions, we will eventually see the FED taper and rates rise. Until then, I believe we are relatively safe and will see rates
FANNIE MAE REFI NOW AVAILABLE
Fannie Mae and Freddie Mac both came out with programs aimed to help consumers that haven’t been able to take advantage of historic low interest rates due to income ratios.
LONG DISTANCE MOVERS BUYING LARGER, MORE AFFORDABLE HOMES
In a report from Zillow, the average long distance mover is buying a home $27,000 cheaper and 33 square feet larger.
The cities with the largest outbound population are Chicago, New York, LA, San Diego and San Francisco.
The cities with the largest inbound population are Phoenix, Charlotte, Austin, Dallas and Sarasota.
Information from these posts received from mortgagenewsdaily.com , keepingcurrentmatters.com and zillow.com.