Present Market Conditions

Attributed to Sam Khater, Chief Economist.

“The 30-year fixed-rate mortgage decreased this week averaging 6.47%,” said Sam Khater, Freddie Mac’s Chief Economist. “Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening, suggesting purchase demand is continuing to modestly improve."

Expectations

On the economic front this week looks to be a busy one. Wednesday kicks off the major reports with the New Home Sales data. Thursday is packed with a lot of information coming our way. Initial Jobless Claims will start things off followed by Personal Income/Spending, Durable Goods Orders and the PCE Index reports. The PCE Index happens to be one of the Feds favorite inflation reports. Friday finishes up the week with the Consumer Sentiment report.

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!