It has been a while since I have updated you and I apologize for that. I have just finished my vacations for a while and will be focused on helping you fulfill your dreams. This week is another important week on the economic front. Some inflation readings are coming out. CPI and and core CPI are coming out on Thursday which could be rate changers for the mortgage industry. Tomorrow is retails sales which also is a good indicator of what people are doing with their money.
On the good side lately gas has started to decline (not so fast in Utah) but the national average right now is $3.81. This should help with some of the inflation that is happening around us.
Right now it is a good time to when you find a house to look at locking in a rate. A lot of the articles I am reading are saying the rates are on a slow increase so the sooner you lock in the better. Our rates right now are bouncing between 6.5% and 6.875%.
Come October there will only be on 100% financing loan available which is Utah Housing. This still has the best rate for first time home buyers and allows you to come in with no money down.
Good luck house hunting and if their is anything I can do for you let me know.
Tuesday, August 12, 2008
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