San Luis Obispo Real Estate Mortgage Rates Loan Apps At 13 Yr Low
News out today that mortgage applications are at a 13 year low! It's the combination of higher prices and higher interest rates! Inventory is also low, and with all the costs, fees, and bureaucratic rules and regulations it is expensive to build and hard to finance new building! Local bureacrats are "killing the golden goose". Each new home build adds on average two jobs in the construction industry. Re-fis are down 7.7% and the 30 year fixed average is at 4.64%!
The Day Ahead: Durable Goods, New Home Sales
Bond markets close early at 2pm ET. Manufacturing appears to be regaining strength. New factory orders for Durable Goods in November rebounded a sharp 3.5 percent, following a 0.7 percent dip in October (previously down 1.6 percent).New Home Sales fell 2.1 percent in a deceptive November reading where the 464,000 annual sales rate is above expectations but against a sharply upward revised October, now at 474,000 vs an initial reading of 444,000.The bond markets are close early today (2pm ET) and are fully closed for the Christmas Holiday tomorrow.
Dow is trading at 16,336 +40 the 10 yr bond is at 2.97 from 2.91 Yesterday, Currently point structure isslightly higherfrom yesterday
Conv. – 4.5%
FHA. – 4.25%
Jumbo – 4.125%
Have a Great Day andMerry Christmas !!!
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