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Mortgage Wrap Up for the Week Ending July 27, 2012

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Weekend Mortgage Wrap Up July 27, 2012We began the week with mortgage rates at hear historic lows, continuing the trend we’ve seen for months where rates always seem to be at historic lows or making new historic lows.

The middle of the week saw mortgage rates mixed with mortgage rates moving upward later in the week into today. To get an up to the minute rate quote, feel free to use the free rate request form above or call us directly as rates can change many times per day.

NAR Data Showing Pending Homes Sales Decline in June

The National Association of Realtors or NAR released data from it’s Pending Home Sales Index (PHSI) this week showing that pending home sales declined 1.4% to 99.3% in June. This is 9.5 percent higher than June 2011, when it was 90.7.

US Homeownership Data Released

The U.S. Department of Commerce’s Census Bureau released data this week showing that the national homeownership rate was 65.5% in the second quarter of this year, a bit lower than the 65.9% rate that occurred in the second quarter 2011 and very close to the first quarter of this year, which came in at 65.4%.

Economic Calendar for Week Beginning July 30, 2012

  • Monday – Dallas Fed MFG Survey
  • Tuesday – Personal Income & Outlays, Employment Cost Index, Consumer Confidence
  • Wednesday – ADP Employment Report
  • Thursday – Jobless Claims
  • Friday – Employment Situation

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Trace Richardson has written 216 articles on Karen Gustin Mortgage Services Expert

I'm Trace Richardson and am the founder of LeadPress. I’m a licensed California Real Estate broker and a former equities trader previously holding the Series 7, 63, 55 and 24 securities licenses.

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