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Thursday, July 30, 2015

Average US Rate on 30-Year Mortgage Falls to 3.98 Percent

http://abcnews.go.com/Business/wireStory/average-us-rate-30-year-mortgage-falls-398-32780567

A statement the Fed issued Wednesday after ending its latest policy meeting gave no timetable. The central bank signaled that it wants to see further economic gains and higher inflation before raising rates. Many analysts foresee the first hike in September, though Fed Chair Janet Yellen has stressed that any increase will be driven by the latest economic data.
Despite the incentive of relatively low mortgage rates, data issued Wednesday by the National Association of Realtors showed that the number of signed contracts to buy homes fell in June. Limited supplies of homes on the market are holding back possible sales growth.

Limited supply? what a crock...Obviously the desk jockeys at the NAR don't get out much do they?

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