DAILY MORTGAGE RATE UPDATE 07-16-18

Mortgage Rates are lower to begin the week being pressured by several strong economic reports from Retail Sales and the manufacturing sector.

The July 2018 NABE (National Association for Business Economics) Business Conditions Survey indicates strong sales and steady profit margins in the second quarter of 2018, as well as increasing materials costs and wages.

I am recommending locking in the short-term, 30-days or less until closing. Longer-term floating is prudent.

Everyone thinks of changing the world, but no one thinks of changing himself.
-Leo Tolstoy

 

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