First Time Home Buyers
Last Week’s Summary
Rates ticked higher last week for the first time in five weeks. The uncertainty over Greece had caused mortgage bonds to get better for a few weeks. Because of it, almost all of the most common loans for first time home buyers had improved.
Mortgage rates looked for a minute like they were ready to have the “.5% single day jump” that we’ve been concerned about, but they pulled it back together and settled .125% higher on the week.
This Week’s Mortgage Rate Predictions
Last week was all about Europe. This week is all about us. The biggest news hits Wednesday through Friday. We’ll see Housing Starts, Housing Permits, FOMC Minutes, and then inflation data to close the week.
For the FHA vs. Conventional comparisons, they remain relatively similar to what we’ve seen for the past few months. For standard FHA mortgages vs some of the state programs, the math has changed in the past few weeks.
If you need a custom comparison, drop us a line or get the specifics to us via chat and we’ll send a spreadsheet back to you.
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