Summer Mortgage and Sales Update

Rates have inched back down this week. Janet Yellen, the Chairman of the Federal Reserve Board, in a speech on Monday, hinted that the economy is improving but the timing is unclear for a rate hike, playing down the possibility that the next increase will be this month.
These remarks along with the disappointing May jobs report and concerns over the possibility that Britain will exit the European Union helped rates to ease.
Buyers eager to take advantage of the continued low interest rates are actively seeking to purchase.
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues

Posted on June 18, 2016 at 5:31 pm
Nancy Low | Category: Buyers, News, Sellers

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