According to RealtyTrac, residential property sales fell 3% in July and were down 12% from a year ago. Meanwhile mortgage applications for purchase and refinancing also fell last week. But on a more positive note, new orders for manufactured goods rose by a record 10 1/2% in August while the Fed’s Beige Book survey showed continued economic growth in every district. Conforming no point 30 year fixed mortgage rates average 4 1/8th with 15 year rates closer to 3 1/4%.
And now for something completely different and very odd: Did you know that in 1978 grave robbers stole the corpse of revered silent film actor Charlie Chaplin? They demanded $600,000 ransom to return the body. No, they didn’t get the money!
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942.
This is Mehran Aram with today's ARAMCO Report.