The Federal Reserve is keeping its accommodative policy in place. Officials indicated at their last meeting in March that the easy policy will stay in place until it produces stronger employment and inflation, and won’t be adjusted based merely on forecasts.
Nearly 2.4 million Americans were unemployed for at least a year, according to the March jobs report from the Bureau of Labor Statistics. That represents 24% of all unemployed. Long-term joblessness is increasing even as the U.S. unemployment rate fell to 6% in March, an unusual dynamic during recessions according to economists.
2020 Property Tax Increases Outpaced Inflation. “Homeowners across the United States in 2020 got hit with the largest average property tax hike in the last four years, a sign that the cost of running local governments and public school systems rose well past the rate of inflation. The increase was twice what it was in 2019,” said Todd Teta, chief product officer for ATTOM Data Solutions. “Fortunately for recent home buyers, they have mortgages with super-low interest rates that somewhat contain the cost of home ownership.
The current mortgage rates are still at a historically low level, and it is still recommended to lock in interest rates.
Economic Calendar
Report
Period
Estimate
Impact
Date: Tue. Apr 13
Consumer Price Index (CPI)
Mar
0.5%
High
Core Consumer Price Index (CPI)
Mar
0.2%
High
Date: Wed. Apr 14
Beige Book
Apr
NA
Moderate
Date: Thu. Apr 15
Housing Market Index
Apr
84
Moderate
Philadelphia Fed Index
Apr
41.3
Moderate
Retail Sales
Mar
4.7%
High
Retail Sales ex-auto
Mar
3.0%
High
Empire State Index
Apr
16.25
Moderate
Date: Fri. Apr 16
Building Permits
Mar
1.750M
Moderate
Housing Starts
Mar
1.613M
Moderate
Consumer Sentiment Index (UoM)
Apr
88.6
Moderate
Daily rate based on: SFR/Primary/LTV60/FICO 780/Purchase
IMPORTANT: Advertised rates were valid and effective as of the date reflected above, are for informational purposes only, and are subject to change without notice.
Loans are subject to credit and collateral approval. Advertised rates are based on a set of loan assumptions including a borrower with excellent credit history and optimal loan characteristics. Your final interest rate and annual percentage rate (APR) may differ depending on your individual transaction’s specific characteristics, and certain products may not be available for your situation. Several determining factors include, but are not limited to, the state of the property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value, and credit score.
APR reflects the cost of credit over the term of the loan expressed as an annual rate. For mortgage loans, APR may include the interest rate, discount points (also referred to as “points”), and other charges or fees (such as mortgage insurance and origination fees), but does not necessarily take into account other loan-specific finance charges you may be required to pay.
Golden Star, Inc. dba Transglobal Lending, 185 W. Chestnut Ave., Monrovia, CA 91016, NMLS # 1437002 (www.transgloballending.com). All rights reserved. Equal Opportunity Employer and Equal Housing Lender. All mortgage products are subject to credit property approval. Rates, Program terms and conditions are subject to change without notice. Additional conditions, qualifications, and restrictions may apply. This is not an offer for extension of credit or a commitment to lend.
