How Low Can We Go?? #ChrisBJohnsonRealtor #TimeToSell

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Real Estate Agent with Allison James Elite CA. BRE 01501699

A New 2017 Low Struck with Mortgage Rates, Ventura County Home Values On The RISE!!

The 30-year fixed-rate mortgage moved lower for the third consecutive week and set a new low for the year, Freddie Mac reports.

"In a short week following Memorial Day, the 10-year Treasury yield fell 4 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate remained relatively flat, falling 1 basis point to 3.94 percent and once again hitting a new 2017 low."

Freddie Mac reports the following national averages with mortgage rates for the week ending June 1:

  • 30-year fixed-rate mortgages averaged 3.94 percent, with an average 0.5 point, dropping from last week’s 3.95 percent average. Last year at this time, 30-year rates averaged 3.66 percent.
  • 15-year fixed-rate mortgages averaged 3.19 percent, with an average 0.5 point, holding the same average as last week. A year ago, 15-year rates averaged 2.92 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.11 percent, with an average 0.5 point, rising from last week’s 3.07 percent average. A year ago, 5-year ARMs averaged 2.88 percent.

With this latest jobs report out of the way, the runway is now clear for the Federal Reserve to raise benchmark interest rates when it meets June 13 and 14. Even before the Labor Department’s release on Friday morning, the Fed had been sending firm signals that its members viewed the economy as strong enough to withstand another rate increase.

Source: Freddie Mac

Appeals Court Dismisses LA Case v. BofA, Wells

Suits claiming Bank of America and Wells Fargo engaged in discriminatory lending practices in the city of Los Angeles were dismissed this week by an appellate panel in New York. Filed by the city of LA, the suits alleged the two banks targeted minority buyers with more expensive and riskier loans than white borrowers. The appellate panel ultimately sided with the original district court rulings, which stated the city failed to establish a strong enough link between the bank’s policies and any racial disparity in local homeownership.

 

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Chris B. Johnson, Realtor, CDPE, SFR, BPOR, HAFA, CDAT

Allison James Elite

Cell # 805.208.0823   CA. BRE 01501699

Email: ChrisBJohnson@gmail.com

www.ChrisBJohnson.Realtor       My FaceBook Page

 

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Rainer
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Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Don't know how much longer these low rates can hang.  I got started in the biz when mortgage rates were 18%+.

Jun 03, 2017 10:25 AM #1
Rainer
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Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Mortgage rates are about to go up in the next few weeks! If you have a buyer in market lock the rate up!

Jun 03, 2017 10:43 AM #2
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Rainmaker
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Chris B Johnson REALTOR®

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