Present Market Conditions

Attributed to Sam Khater, Chief Economist.

“The 30-year fixed-rate mortgage averaged 6.51% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “As rates fluctuate, aspiring buyers should remember that by shopping around for the best mortgage rate and getting multiple quotes, they can potentially save thousands."

Expectations

All eyes will continue paying attention to the conflict in the Middle East. Tuesday brings the first of the major reports with the release of the Consumer Confidence data. Thursday brings New Homes Sales, Durable Goods Orders, and the Initial Jobless Claims numbers. Friday finishes up the week with the Core PCE. The Core PCE happens to be one of the Fed’s favored inflation indicators, so we’ll be keeping an eye on that one. Multiple Fed officials will be speaking throughout the entire week.

Guidance

It’s a great time to be in the market for a mortgage! You’ll want to make sure you take advantage of this great time to buy!