More good news on housing as a gauge of home builder’s confidence hit the highest level in 1/2 a year. They are now more optimistic about present sales as well as future home sales. But the better than expected housing data and a modest rise in wholesale inflation had little impact on interest rates. Conforming no point 30 year fixed mortgage rates still average 4 1/8th with 15 year rates closer to 3 1/8th.
And now for something completely different: Did you know that Bugs Bunny was the 2nd cartoon character to receive a star on the Hollywood Walk of Fame? Yes, the first one was Mickey Mouse!
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.