Happy Monday! Good news for existing home sales...we finally see them rise a little bit which was definitely unexpected! Most likely this news is due to the lowest rates we've seen in years and firesales on homes. Buyers Market for sure!
Employment rates are still low...some major players like Home Depot, Caterpillar and Sprint are reporting large layoffs.
This market is still very volitale, but we are recommending floating. With the mini refi boom, lenders are pricing their rates higher than they should be to control the volume of loans they receive. Rates should level out once these lenders can get back to normal turntimes!
30 Yr:5.5%
20 Yr: 5.625%
15 Yr: 5.125%
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