Present Market Conditions

Attributed to Sam Khater, Chief Economist.

“The 30-year fixed-rate mortgage eased slightly this week averaging 6.43%” said Sam Khater, Freddie Mac’s Chief Economist. “With rates at a seven-week low and purchase demand continuing to edge higher, it's an encouraging sign as prospective homebuyers respond to modest improvements in affordability.”

Expectations

Monday brings the first of the economic reports with the ISM Services report. Wednesday follows with the Wholesale Inventories and the minutes from the Fed's June FOMC meeting. Thursday will finish up the week with the Initial Jobless Claims, and Existing Home Sales stats.

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!