VIDEO UPDATE:

Mortgage Interest Rate Update (youtube.com)

TODAY’S RATES & HOUSING NEWS

Interest rates went down approximately
.2% over the past 7 days with the
Mortgage Backed Security (MBS)
Market trading up +65 bps over the
past 7 days.

The big event last week was
Friday’s BLS Jobs Report.

Job creation numbers came in
at 142,000 compared to an
estimated 160,000 (good for
rates). There were also 86,000
in jobs lost with negative revisions
for the prior 2 reports (also good
for rates).

The unemployment rate went down
from 4.3% to 4.2% (bad for rates).

Overall, the numbers helped interest
rate pricing some, but the data likely
wasn’t dire enough to trigger the
FED to cut the Federal Funds
Rate by 50 bps on September 18^th.
Most experts are predicting a 25
bps drop.

Remember, a 25 bps drop in the
Federal Funds rate has already
been priced into interest rates today.
We are hearing a lot of Realtors
telling clients that rates will drop
in September when the FED cuts
rates, and I don’t believe that is
accurate information. They could
drop, but the FED dropping 25 bps
won’t be the cause.

Next week we have the CPI Inflation
Report on Tuesday and the FED
Meeting on Tuesday and Wednesday,
with a press conference and statement
released on Wednesday.

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

OR reply to this email with the answers
to the questions below for Mortgage
Options for your scenario.

REFINANCE QUOTE:

Goal of Refinance – Lower Payment, Cash Out, Etc:
Address of Home:
Estimated Value Of Home:
Current Loan Amount:
Loan Amount You Would Like to Finance:
Current Rate:
Do you know what type of Loan you are Currently in – FHA, VA, etc:
Estimated Credit Score:
Are You a Veteran or Active Member of the US Military: 
If you are a Veteran, do you get VA Disability:

PURCHASE QUOTE:

What City and State Are You Looking to Buy In: 
Estimated Purchase Price:
Loan Amount You Would Like to Finance:
Will Property be a Primary Residence, Investment Property, or Vacation Home:
Estimated Credit Score:
Are You a Veteran or Active Member of the US Military: 
If you are a Veteran, do you get VA Disability:

Thank you!

FALL 2024 BUYING AND
SELLING GUIDES ARE HERE

Below are Fall 2024’s Buyer and Seller
Guides for everything you need to know
when buying or selling a home this Fall.
Realtors, if you would like these
customized to you – please let me know.

Things to Consider When Buying a Home
The process of buying a home can
be overwhelming at times, but you
don’t need to go through it alone.
You may be wondering if now is a
good time to buy a home…or if
interest rates are projected to rise
or fall. I put together a free eGuide
for you that will answer many of your
questions and likely bring up a few
things you haven’t even thought
about yet. Just click the button below
to read it now!
Read Your Guide Now

Things to Consider When
Selling Your House
It’s difficult to know when is the best
time to sell, or how to get the most
money for your house, but you don’t
need to go through the process alone.
You may be wondering if prices are
projected to rise or fall…or how much
competition you may be facing in the
market. I put together a free eGuide for
you that will answer many of your
questions and likely bring up a few
things you haven’t even thought about
yet. Just click the button below to
read it now!
Read Your Guide Now

HOME APPRECIATION SLOWS BUT
STILL REACHES ALL TIME HIGHS

Homes appreciated 5.4% Year
over Year in the U.S. according
to the S&P / Case Shiller Home
Price Index. While Home Appreciation
has slowed since it’s 2024 peak of 6.5%
in February and March, home prices
are still achieving record high average
prices every month.

Click chart for full article below:


https://www.corelogic.com/intelligence/case-shiller-index-june-2024/

How did your city do?
Here is the Year over Year Home
Appreciation in the 20-city composite.

1. New York +9.0%
2. San Diego +8.7%
3. Las Vegas +8.5%
4. Los Angeles +8.2%
5. Chicago +7.0%
6. Detroit +7.0%
7. Miami +6.9%
8. Cleveland +6.7%
9. Seattle 6.7%
10. Boston +6.6%
11. Charlotte +6.4%
12. Washington +6.0%
13. Atlanta +5.1%
14. San Francisco +4.3%
15. Phoenix +3.7%
16. Tampa +3.1%
17. Dallas +2.3%
18. Minneapolis +2.0%
19. Denver +1.9%
20. Portland +0.8%

Have a great week!