Present Market Conditions

Attributed to Sam Khater, Chief Economist.

“The average 30-year fixed mortgage rate was little changed this week at 6.49%” said Sam Khater, Freddie Mac’s Chief Economist. “Rates have remained relatively stable over the last six weeks. Meanwhile, purchase activity eased modestly and refinance activity has continued to pick up recently, reflecting borrowers’ responsiveness to current rate levels.”

Expectations

Tuesday brings the first of the economic reports with the Job Openings data and the current Consumer Confidence levels. Wednesday follows with the ISM Manufacturing numbers. Thursday will finish up the week with the always important U.S. Employment Report, the Initial Jobless Claims, and Factory Order stats. Markets will be closed on Friday.

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!