The ISM non-manufacturing index rose in June to the highest level in 9 years. U.S. factory orders also rose by 1.1% the highest level since 1992. And according to Core Logic, nationwide home prices in June year over year rose by 7 1/2%. But all the good economic news was offset by continuing geopolitical risks overseas leaving mortgage rates unchanged. Conforming no point 30 year fixed rates average 4 1/4% with 15 year rates closer to 3 1/4.
And now for something completely different: Did you know that the Kraft company produces enough Cool Whip in one year to fill the entire Grand Canyon? That’s pretty cool!
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.