According to the National Association of Realtors, nationwide the Housing Affordability index fell in July thanks to the continued rise in home values which are outpacing incomes. But price gains are slowing. Median household income rose only slightly in 2013 for the first time since the recession. Conforming no point 30 year fixed mortgage rates average 4 1/4% with 15 year rates closer to 3 3/8ths.
And now for something completely different: Did you know that the world famous Hollywood sign was first erected in 1923? But at the time the sign read “Hollywoodland.”
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.