The Good,The Bad, & The Ugly
The Good - The Fed's kept the fund rate at the 0%-25% level given slow improvement in the economy.
Good and Bad - Due to record low interest rates of sub-5%, refinancing applications have increased over 51% since the end of April and they account for 74% of all mortgage applications.
The Bad - Existing home sales declined 2.2% in May.
The Ugly - New home sales declined 32.7% in May, the lowest level since this data was tracked in 1962.
Call Today for Personalized Mortgage Services
We are a full service mortgage brokerage firm offering Conventional, FHA, VA, CalPERS, CalSTRS and Jumbo mortgage programs up to $3,000,000.
Tom Drasler - (714) 478-3153 - Lincensed Mortgage Specialist DRE#01775516
"Serving Southern California Since 1996"
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