Monday, July 22, 2013

The Amateur Economist Report by Justin Lee Thayer 07/22/2013

Rates 3/4 of a point since 6/19.  Investors assumed at that time the economy was taking off! Ben Bernanke, Federal Reserve Chairman, said all is well and the Fed will start cutting back on any stimulus spending.  Since 06/19 a several scares in the markets freaked investors out, but harsh reactions were calmed. I expect a steady incline in home values until the high seasons ends mid September.
30 year fixed conforming =
4.500%
4.596%
15 year =
3.625%
3.706%
3/1 ARM =
3.375%
3.461%
FHA/VA 30 year fixed =
4.250%
4.917%
30 Yr Fixed Non-Owner =
4.750%
4.818%
Prime rate is currently =
3.250%