Following several days of upward movement in treasury yields, mortgage rates are up by 1/8th of a %. Conforming no point 30 year fixed mortgage rates now average 4 1/4% with 15 year rates closer to 3 3/8ths. According to the Mortgage Bankers Association, the volume of loan applications for home purchase fell by 9% in August. Meanwhile RealtyTrac reported the first year over year uptick in foreclosure activity up 7% in August.
And now for something, completely different: Did you know that there is such a thing as a doggy disco in Italy? Yes, every year the owners gather and dance with their dogs!
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.