TODAY’S RATES & HOUSING NEWS

4^th of July week was a nice turnaround
for mortgage interest rates. After mortgage
interest rates went up the week prior, the
market rebounded with the Mortgage Backed
Security (MBS) trading up +70 bps. Interest
rates improved approximately .125% and
reversed the upward movement from the
week prior.

The highlight of the week was the BLS
Jobs Report.

The Job Creation number for June
2024 came in at 206,000 which was
slightly higher than estimates of
190,000. Although jobs came in higher
than expectations for June, there were
major negative revisions to the 2 prior
months of 111,000.

This along with the unemployment rate
going from 4% to 4.1%, helped set the
stage for hopefully a good July for
Mortgage Interest Rates.

Below is the Green Home Loans
rate sheet today. There are a lot of
characteristics that go into a mortgage
rate – credit score, investor, loan
to value, loan amount, costs, etc.

Please call me to go over your
specific scenario so we can price
your loan out accurately.

And below are Mortgage News Daily’s
average interest rates across the country.

HOME PRICES RISE 6.3%

S&P Case Shiller National Home Price
Index came out for April 2024 (3 month lag)
and home prices reached a new all-time
for the second consecutive month, with
home prices rising 6.3% nationally over
the past 12 months.

Here are the year over year home appreciation results for the 20 city composite.

1. San Diego +10.3%
2. New York +9.4%
3. Chicago +8.7%
4. Los Angeles +8.6%
5. Cleveland +8.5%
6. Las Vegas +8.3%
7. Miami +8.2%
8. Boston +7.9%
9. Seattle +7.5%
10. Charlotte +7.3%
11. Detroit +7.2%
12. Denver +6.4%
13. Atlanta +5.9%
14. Phoenix +4.8%
15. San Francisco +4.7%
16. Tampa +3.6%
17. Dallas +3.4%
18. Minneapolis +2.9%
19. Denver +2.0%
20. Portland +1.7%

Have a great week!!!