TODAY’S RATES & HOUSING NEWS

Interest rates have improved to 6 month
lows with the Mortgage Backed Security
market (MBS) trading up +12 bps.

In the chart below, see the MBS
market since January 2024.
(lower the chart – the higher
interest rates)

You can see that mortgage interest
rates hit their high point in April, but
since April rates have gradually
improved even with some periods
of interest rates spiking.

Friday’s PCE Inflation Report came in
near expectations with Year over Year
inflation declining from 2.6% to 2.5%
and Core Inflation remaining at 2.6%.

This will be an important week
for interest rates with

THE FED MEETING ON WEDNESDAY
And THE BLS JOBS REPORT ON FRIDAY

A really positive week for interest
rates will include hints that the FED
could lower the Federal Funds Rate
in August, and lower than expected job
creation and/or a higher unemployment
rate.

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.

MORTGAGE QUOTE

What are your goals for Home Financing – Purchase, Refinance, Cash Out:
Purchase Price / or Home Value for Refinance:
Address or City and State of Property:
Is Property a Primary Residence, Investment Property, or Vacation Home:
Loan Amount You Would Like to Finance:
Current Balance of Mortgage (if applicable, for refinance only):
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!

6 COSTLY MISTAKES FOR
REAL ESTATE INVESTORS

https://www.biggerpockets.com/blog/top-6-mistakes-real-estate-investors-are-making-in-2024?utm_source=Iterable&utm_medium=email&utm_campaign=7.21.2024%20%7C%20Newsletter

During the pandemic, home prices soared
due to high demand coupled with low
inventory and mortgage rates.

But that rapid appreciation couldn’t
last forever. Now, data confirms prices
are still rising, just more moderately.
This healthier pace is actually a good thing.
It means home price growth is normalizing.

Have a great week!