Mortgage Rates at 3 year lows!!! July 11, 2019

While mortgage interest rates have moderated, we?re still at nearly three-year lows, which is good news for buyers looking to purchase a home before school starts. The recent stabilization in mortgage rates reflects modestly improving U.S. economic data and a more accommodating tone from the Federal Reserve to respond to the rising downside economic risk from trade tensions and soft global economic data. On the housing front, the latest weekly purchase application data suggests homebuyer demand continues to rise, which is consistent with the slowly improving real estate data from the last two months.