GDP Advance Q2 Report:
Earlier today the GDP Advance Q2 report came out higher than expected. Investors were expecting a reading of 1.8% however the actual reading came in at 2.1%. Stronger than expected however it's still lower than the 3.1% gain in Q1 2019. Treasuries and Mortgage Backed Securities sold off which caused mortgage rates in California to move higher.
Impact To Mortgage Rates:
Could this stronger than expected report push mortgage rates even higher? Sure; there is always that possibility however today's move higher is well within the range we've seen for most of July so at this point there is little cause for alarm
Next week is the Fed meeting and several important economic reports that may impact mortgage rates.
Tips For A Succesful Loan Transaction:
Here are a few tips to help ensure you obtain a low rate and great terms.
- Be prepared!
- Ask questions; lots of them!
- Utilize the Better Business Bureau website to locate a highly rated company
- Work with an experienced Loan Officers that has a great reputation.
If you have any questions or if you would like a quote you can contact me directly at 1-800-550-5538.
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