Mixed economic data has kept mortgage rates at their lowest level of the year despite investor’s expectations of rising interest rates in 2014. Conforming no point 30 year fixed rates average 4 1/4 % and 15 year rates closer to 3 1/4 %. According to the conference board, Consumer Confidence rose in May but the number of people who plan to buy a home within 6 months fell to 4.9 %. Meanwhile the S&P Case Shiller report showed a year over year increase of 12.4 % in home prices in March.
And now for something completely different: On May 18th, 2004, the Big Unit, Randy Johnson, with the Arizona DiamondBacks became the oldest pitcher to ever throw a perfect game at age 40.
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.biz or call me at (877) 700-0942.
This is Mehran Aram with today's ARAMCO Report.