Present Market Conditions

Attributed to Sam Khater, Chief Economist.

“The 30-year fixed-rate mortgage averaged 6.49% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates have not changed much recently, but economic growth and housing affordability continue to improve for homebuyers as they shop for homes in today’s market.”

Expectations

This week will be quite busy with a lot of economic data coming our way. Tuesday brings the release of the CPI. The Consumer Price Index (CPI) is a key indicator that lets us know what is taking place with the inflation trends. Wednesday follows with the Producer Pricing Index (PPI) reports. The PPI is another key inflation report that is being watched closely. Thursday brings the Initial Jobless Claims along with the Retail Sales information. The Retail Sales info is always important since consumer spending makes up almost 70% of the economic data in the United States. Friday finishes this very busy week with the Consumer Sentiment and Housing Starts numbers. Multiple Fed Officials will be speaking throughout this 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!