In her semiannual testimony to lawmakers Federal Reserve Chairwoman Janet Yellen sent a clear signal to investors, not to expect a rate increase anytime soon. Both stocks and bonds rallied and mortgage rates fell by a 1/8th of a % with conforming no point 30 year fixed rates averaging 3 3/4s and 15 year rates closer to 3%. Meanwhile according to the S&P Case-Shiller, year over year December home prices for San Diego County rose by 4.8%. In San Francisco prices rose by 9.3%. And now for something completely different… Did you know that the Coca-Cola Company makes so many different beverages worldwide, that if you drank one per day, it would take you over 9 years to try them all?
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.