When the economy is UP like it is right now it is even more important to stabilize the housing market. This means stabilizing rates. Housing and unemployment are doing VERY well so a huge PUSH towards buying (lowering rates) is not needed for stimulation.

The rates are still NOT high. I am still quoting 4-5% on average with a few creeping to the 6%. This is still very very low based off of historical averages. I was quoting 8-11% all day in my early career. The rates have been up to 18% in the past. I see auto, personal loans, and credit card rates much much higher on a daily basis.

Don’t let the media or fear mongers convince you otherwise.

We have been spoiled the last few years with rates within the 3-4% but that was historical lows and was meant to boost the economy. Which in fact, it did.

Buying a home employs 100’s of people. The unemployment rate fell to 3.7% which is the lowest in 49 years!

– This is not a coincidence.

Goldman Sachs economist Daan Struyven claims little chance of recession in the next three years. He said, “the model still classifies the expansion as mid-cycle.”

– Again… not a coincidence. Housing and unemployment are stable and healthy… why would there be a recession?

Remember, mortgage rates can be extremely volatile, so check with us for up-to-the-minute information or when you have any questions at all on your options.

“Looking Out For Your Best Interest” – Always. – B

The Brandy Whitmire Mortgage Team

**Looking Out For Your Best Interest**

Brandy Whitmire | Branch Manager | Mortgage Loan Originator | NMLS #194877 

Office Phone: 214-660-5000 | Email: BWhitmire@financemyhome.com

HomeBridge Financial Services, Inc., DBA FinanceMyHome.com   

Mobile APP: www.BrandysApp.com

Application: www.BrandyWhitmire.info

Related Articles

This past week had little economic data for the financial markets to react to. As a result, home loan rates have inched higher though they remain near multi-year lows. It is normal to see quiet sideways trading action in the summer months, especially with the U.S./China trade war punting into…
Read More of the post Summer Sideways Trend Continues

This past week, Fed Chair Jerome Powell reaffirmed the Federal Reserve's dovish position as he testified on Capitol Hill, thereby paving the way for the first Fed rate cut in 10 years later this month. Mr. Powell used the word "uncertainties" five times in his prepared speech to describe potential…
Read More of the post A Slow News Week Ahead

“It's like watching paint dry.” That was this past week as financial markets around the globe traded in a bit of a calm, sideways pattern ahead of arguably the most important economic event of 2019 — the US/China trade talks at the G20 meeting. Depending on when you read this…
Read More of the post Calm Before the G20 Storm

What a difference a month makes. In May, stocks fell sharply, and interest rates declined each week. June has been a different story. The Fed has signaled rate cuts are likely coming. Stocks have been rallying higher, and the decline in interest rates has stalled. The Fed can't control home…
Read More of the post Rate Decline Stalls