Despite a larger than expected 6.1% jump in May pending home sales and a decent purchasing manager’s index from Chicago, the bond market and mortgage rates were mostly unchanged. Conforming no point 30 year fixed rates average 4 1/4% with 15 year rates closer to 3 1/4. Meanwhile some good news for renters who wish to become homeowners, as Experian and Transunion will now incorporate their rental payment history in computing their credit scores.
And now for something completely different: Did you know that Camden, New Jersey is home of the world’s first drive-in-movie theatre? It opened in June of 1933!
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.