Economists believe growth in the third quarter has slowed to around 2.2 to 2.5 percent but, economists also think that there will be a modest acceleration in activity for the final three months of the year. “Overall outlook on the U.S. economy for the remainder of the year remains fairly optimistic, supported by continuing consumer spending, improvements in the housing sector and solid manufacturing numbers,” said Jim Baird, chief investment officer for Plante Moran Financial Advisors.
As a matter of fact, a headline in Friday’s S.A. Express News read, “Pace of new-homes sales soars.” The article continued to state that buoyed by steady job gains and low mortgage rates, Americans purchased new homes in August at the fastest pace in more than seven years. New-home sales surged 5.7 percent last month to a seasonally adjusted annual rate of 552,000 homes, the Commerce Department reported on Thursday.
To help matters, average long-term U.S. mortgage rates declined this last week following the Federal Reserve’s decisions to keep interest rates at record lows for now. Freddie Mac said the average rate on a 30-year fixed rate mortgage fell to 3.86 percent from 3.91 percent a week earlier. The rate on a 15-year fixed rate mortgage dropped to 3.08 percent from 3.11 percent for the same time period. If you know of someone that is just in the thinking stage of entering the housing market, now would be a wonderful time for them to get more serious.
Please remember me to anyone you know that may need a mortgage!
Sr. Loan Officer | NMLS# 216213
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9311 San Pedro Avenue, Suite 100
San Antonio, Texas 78216
© 2015 SWBC. All rights reserved. This article is for informational purposes only and not intended for consumer distribution. Do not use it as financial and/or political advice. The opinions expressed in this article are not necessarily those of SWBC Mortgage, Century 21 The Hills Realty, or any of their affiliates. Information for this article from but, not limited to, the Wall Street Journal, S.A. Business Journal, NAMB, Real Estate on-line magazine, S.A. Express News and MBA News Link. To be removed from this email reply “remove” in the subject line. For questions/comments contact Tony Stevenson at 1.800.460.6990 or email email@example.com. Loans are subject to credit and property approval. Other restrictions and conditions may apply. Programs and guidelines are subject to change without notice. Rates are subject to change daily. This email is an advertisement from SWBC Mortgage Corporation, NMLS #9741. Corporate office located at 9311 San Pedro Avenue, Suite 100, San Antonio, TX 78216. 8540-5937 NMLS#9741(www.nmlsconsumeraccess.org)