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  • The Briggs Team
    1241 Grand Ave. STE B
    Diamond Bar, CA 91765
    (909) 631 0006
    pamela@briggsteamrealty.com

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    California Regional Multiple Listing Service

    The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

    Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

    Your Economic Update and Mortgage Minute 6/23/2020

    Published 07/04/2020 | Posted by Pamela Briggs

      Economic Updates:

    • Federal Reserve continues to come up with ways to stabilize the markets and interest rates. Federal Reserve Chairman also asked Congress to do more to help Main Street and not as much Wall Street

    • The stock market may have a small gain for the week. Still a lot of concern about Covid 19 and unemployment numbers.

    • Initial Jobless claims report was expecting to drop from 1.5 million to 1.2 million. Yesterday the report came back – another 1.5 million people still filed initial jobless claims.  Did not drop as expected.

    • China and US tension continue next week over trade issues, stolen trade secrets, Hong Kong, and issues about the coronavirus.

    • Congress continues fighting over another stimulus package (helping States and Local Counites) waiting to see if they can get this passed. They are also talking about sending checks to consumers again. We will see how this comes out…

    • Mortgage Applications this week continue to show a recovery. Purchase applications were up for a 9th week in a row - another 7% this week and refinances were up another 11%. Busy times…

    • Market Movers Next Week: Several Economic Reports will shape the stock market and affect rates next week: Housing Data – existing and new home sales / PCE Report – Federal Reserve Report which tracks inflation / Mortgage Application Report / Initial jobless claims / and the important GDP report.

     

    Current Interest Rates:

    06/19/20 – Interest rates will be volatile this week!! (Based on a 740 FICO / Purchase / 20% down / Single Family / 0 Points) *

    30 Year Fixed Conforming

    3.250%    (3.360% APR) 

    15 Year Fixed Conforming

    2.750%    (2.854% APR) 

    30 Year VA/FHA Loan Conforming

    2.750%    (2.919% APR)

    30 Year High Balance Conforming

    3.625%    (3.721% APR)    

     

    If you have any questions or need anything, give us a call!             

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