A much weaker than expected reading on retail sales gave the bond market a boost and pushed the 10 year treasury yields down to 2.60 %. Retail sales in March rose by only 1/10th of a %, suggesting slower economic growth in the second quarter. Conforming no point 30 year fixed mortgage rates now average 4 1/4 % with 15 year rates closer to 3 1/4 %. Meanwhile according to the Corelogic Case Shiller indices home price appreciation in 2014 is expected to be less than 1/2 of what it was.
And now for something completely different: Did you know that the plastic pink flamingo is the official city bird of Madison, Wisconsin?
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.