Can you believe the delayed, skewed jobs report? The business survey shows 204,000 new jobs…
After a week of stocks rising while bonds were limping around the falling trend line, today we’re finally seeing some signs of improvement. Bonds made a slight recovery yesterday afternoon after the Treasury auction of 7-year notes was completed, and continue to rise today. This means we can finally expect to see lower rates than we have in at least a week. The forecast for next week looks equally bright (for Mortgage bonds at least), so take advantage of the lower rates while you can.
In other good news, Consumer Sentiment this morning was the highest it’s been since July 2007; a full percentage point higher than previous estimates.
July 26, 2013 our updated mortgage rates in Florida are:
- 30 Year Fixed Rate Mortgage – 4.125% (4.326% APR)
- 15 Year Fixed Rate Mortgage – 3.125% (3.513% APR)
Next week could be a big week in other ways, as we may hear whether or not the Fed intend to taper in September, thus hiking interest rates. Recent reports suggest that even if they continue as scheduled, they may lower their Unemployment Threshold from 6.5% to 6 or 5.5%. This will soften the blow to mortgage bonds in the fall, but obviously interest rates will still be expected to rise.
Check back tomorrow to get the newest rate updates!