Published Date 8/28/2017
The National Association of Realtors released their recent Existing Home Sales report for July, and it showed a very tight housing market. Existing Home Sales are the single best measure of the health of the real estate market as they are completed transactions of single family homes, townhomes, condominiums, and co-ops.
Here are some highlights:
Overall, the above data is excellent showing steady appreciation and demand; it appears that only the lack of available inventory is keeping Existing Home Sales from grown at an even faster pace.
Source: NAR.RealtorConventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up.
Mortgage rates are trending sideways this morning. Last week the MBS market improved by +7 ps. This wasn't enough to improve mortgage rates or fees. Mortgage rate volatility remained low.
The National Association of Realtors released their recent Existing Home Sales report for July, and it showed a very tight housing market. Existing Home Sales are the single best measure of the health of the real estate market as they are completed transactions of single family homes, townhomes, condominiums, and co-ops.
Here are some highlights:
Overall, the above data is excellent showing steady appreciation and demand; it appears that only the lack of available inventory is keeping Existing Home Sales from grown at an even faster pace.
Mortgage rates are likely to continue to trade in a very tight range. We could see some mortgage rate volatility due to the Average Hourly Wages report on Friday.
If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them.
Source: TBWSAll information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
License: FA100093035
Gold Compass Real Estate, Inc.
4 West Dry Creek Circle Suite 100, Littleton CO
Office: 303-325-5690
Cell: 720-877-1370
Email: sales@coloradohomeblog.com
License: FA100093035
Cell: 720-877-1370