A generally improving U.S. economy once again pushed stock prices higher on Monday, sparking a selloff in bonds, which put upward pressure on mortgage rates. Conforming no point 30 year fixed mortgage rates still average 3 7/8ths with 15 year rates closer to 3 1/8th. Meanwhile the U.S. Department of Commerce reported construction spending for January of 2015, which came in 1.1% below December’s levels, but 1.8% above January of 2014. And now for something completely different… Did you know that according to gaming laws, casinos have to stock a certain minimum amount of cash? How much cash? Enough to cover all the chips on the casino floor!
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.