Financial News Update

By Lonnie Glessner | October 1, 2018
  • The final read on Q2 GDP remained at a solid 4.2%
  • Pending Home Sales Index in August was down 2.3% from a year ago. This year every month has seen this index be slightly less than it was for the same month in 2017.
  • Consumer Confidence hit an all new record high of 138.4 in August.
  • Case-Shiller Index saw home prices rise 5.9% for their 20 city national index. Here in Denver prices are up 8% from July 2017 to July 2018. Prices rose 0.3% from June levels.
  • New home sales increased in August to an annual pace of 629k an increase of 3.5% from July. Still, we need this number over 1 million.
  • The Core PCE, the Fed’s favorite inflation gauge, rose 0.2% in August.
  • For the last 12 months the Core PCE is up exactly 2%, the Fed’s stated goal.
  • Personal income in August rose 0.3%.
  • Personal spending in August also rose 0.3%.

 

Rate Update–

  • Conventional 30 year 5.00%/APR 5.117%
  • FHA 30 year 4.75%/APR 5.69%
  • FHA 30 year with a 580 Fico Score 5.25%/APR 6.554%
  • FHA 30 year with a 550 Fico Score 5.625%/APR 6.804%
  • VA 30 year 4.75%/APR 4.96%
  • VA 30 year with 550 Fico Score 5.50%/APR 5.96%
  • CHFA First Step (FHA loan) Down Payment Assistance Program 30 year fixed at 5.125%/6.165%
  • CHFA Conventional Down Payment Assistance Program 30 year fixed at 5.375%/APR 5.970%
  • Conventional 3% down with NO PMI 5.625%/APR 5.798%
  • Jumbo 30 year 4.75%/ APR 4.867%
  • Jumbo 7/1 ARM 4.25%/ APR 4.25%
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