Things affecting rates this week:
CPI coming out again thursday, can push rates in either direction. Remember, higher inflation = higher rates, vice versa.
Rates are bouncing up and down around the highest they have been all year:
As bond prices drop, rates go up. June was was not the best month of the year for rates and home prices are still appreciating. For people on the fence about selling or buying, evidence like this gives a tangible aspect to "cost of waiting" , which if anyone needs, let me know. We need to get people motivated. This is our new normal i.e. a return to pre-fed intervention of the early 2000's where rates are going to be around 6% -7%. Maybe I'm wrong but we've been 6% + on rates for over a year.
Black Knight Home price index = Home prices are up .7% in June → new all time high in home prices. For people in the camp that are anticipating a reduction in home prices, im waiting for some evidence.
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