According to Freddie Mac’s June 2014 economic and housing market outlook, at midyear existing home sales year over year are down by 7 % and new home sales are down by 3 %. Economists have lowered their overall forecast on home sales for 2014. Inventories of homes for sale remain limited and prices are on the rise but not as dramatic as last year. Conforming no point 30 year fixed mortgage rates average 4 1/4 % with 15 year rates closer to 3 1/4.
And now for something completely different: When it comes to historic ballparks, Dodger Stadium is the 3rd oldest park behind Fenway Park which is 100 years old and Wrigley Field in Chicago at 98 years old!
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.