Mortgage rates continue to improve as real economic and job market data emerge.
Today, we’re seeing one of the biggest rate drops in six months. The graph below shows today’s movement, with green/up indicating lower rates.
the Bureau of Labor Statistics – BLS reported only 114,000 jobs created in July. Well below the 185,000 estimates. We also had 29,000 negative revisions to the previous two months.
BLS also relies on the faulty Birth/Death model which is notoriously inaccurate.
Truflation Inflation Data looks at 18M data points opposed to the 80k used by CPI and PCE inflation reports. Truflation is only showing year over year inflation at 1.5% vs 3% in CPI and 2.5% in PCE.
This week, I’ve outlined detailed reasons and strong indications that mortgage rates are likely to drop. It’s not smoke and mirrors.
When choosing your lender, ask them where interest rates come from and what they foresee for the future of rates.
Our team knows our stuff inside and out. When you’re ready, come on over and let’s talk.
Mortgage News 