Mortgage Update January 18 2018

“Mortgage Bond prices are being driven lower by improving economic conditions, higher inflation numbers and additional global Bond supply. Mortgage rates were reported the highest since last March though they remain at historically attractive levels. In housing news, December Housing Starts declined from November, while Weekly Initial Jobless Claims are at the lows seen in the early 1970s. The good news? Buying a home is not driven by rate, but by economic prospects and confidence in employment … and right now those metrics are the highest in years which should be a great tailwind for the home purchase market. I am recommending locking at current levels. If anything changes, I will get back to you.”

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