Economy good news for July 2017

randy56randy56 Member Posts: 4,084 ✭✭✭✭✭
in Non-Boating Related
 
Mortgage rates flat despite positive employment data
 
Economy continues to grow but tough housing market keeps rates low
 
The July jobs report from the U.S. Bureau of Labor Statistics exceeded expectations, with 209,000 new positions added and the unemployment rate at its 16-year low of 4.3%. While the economy continues its upward climb, however, mortgage rates are holding steady at sub-4% levels: the average 30-year fixed rate (3.93%), 15-year fixed (3.18%) and 5/1 ARM (3.15%)* are all essentially unchanged from the previous week. 2017 has seen the country’s lowest inventory on record** and home prices are steadily rising.
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