There was a bit of an upward pressure on interest rates in response to a drop in applications for unemployment benefits which fell to an 8 1/2 year low. But according to the U.S. Department of Commerce, new single family home sales in June fell to a 3 month low down by 8.1% and compared to last year down 11.5%. The weaker housing data tempered the selling in the bond market. Conforming no point 30 year fixed mortgage rates average 4 1/8th with 15 year rates closer to 3 1/8th.
And now for something, completely different: Did you know that Texas is the only state that is allowed to fly its flag at the same height as the U.S. flag? Don’t mess with Texas.
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.