Gas prices are expected to be in the $7 range by August nationwide (already $6+ in California). Some interesting stats came out today:
- Year-over-year appreciation on home prices rose 20.9%
- FED is likely to stay the course and increase rates during their meeting this month 14th – 15th.
- FHA and VA rates are in the mid 4’s and Conventional rates are mid to upper 5’s
- Interest rate buydowns are back in fashion along with ARM’s
- Good amount of fallout on the builders’ side. They are now treating Realtors with respect once more
We are keeping an eye on all of our clients and regularly re-evaluating their sales prices to ensure that they still qualify for the loans they were initially pre-approved for. We will keep you updated with all things rates so stayed tuned!
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