Weekly Newsletter

Here is this weeks review of mortgage rates from last week, what you can expect this week and thoughts on what could move the mortgage market this week.  We should stay in the same range, also you will find what the what the Fed Funds futures market has as an outlook as to when the Fed will move again.  As always, please let me know if you have any questions.

MBS-Road-Signs-08-21-2017

Thanks and have a great week!

Lee McLain

Weekly Newsletter

Here is this weeks review of mortgage rates from last week, what you can expect this week and thoughts on what could move the mortgage market this week.  As always, please let me know if you have any questions.

MBS-Road-Signs-08-14-2017

Thanks and have a great week!

Lee McLain

Weekly Newsletter

Here is this weeks review of mortgage rates from last week, what you can expect this week and thoughts on what could move the mortgage market this week.  As always, please let me know if you have any questions.

MBS-Road-Signs-08-07-2017

Thanks and have a great week!

Lee McLain

New Home Sales for June

New Home Sales, which measures signed contracts on new homes, were up 0.8% in June at a 610,000 unit annualized pace, which was pretty much in line with expectations. Last month’s figure, originally reported at 610,000, was revised slightly lower to 605,000.  Keep in mind these are National stats.

Inventory levels rose 1.5% to 272,000 to their highest level in 8 years, but they are still about half of what they were 10 years ago. Even with such tight inventory, Sales are still up 9.1% on a year over year basis, which is stronger than last month’s 8.9% reading.

The Median New Home Sale Price was reported at $310,800 was actually down 3.4% year over year after setting a record high last month.