Mortgage Rates to Fall Following Weak July Jobs Report
Photo by Nicholas Cappello
According to a Redfin report, the average daily mortgage rate has fallen to 6.57%, its lowest point in 10 months. This decline, which followed a weaker-than-expected July jobs report, has increased purchasing power for homebuyers. Redfin's chief economist, Daryl Fairweather, notes that this creates a window of opportunity for serious buyers before the end of summer, despite housing costs remaining high. The report also highlights that while buyers are gaining the upper hand, new listings are starting to decline as sellers hold off on listing their homes.
For a detailed breakdown by state, read the full article here.
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Fintech Founder at My Home Pathway. VC Backed Startup. Financial Inclusion Leader and Speaker.
Risk and project management professional with experience in Federal Reserve banking regulations, risk management policies as well as risk management advisory services. Critical skills include credit risk analysis, capital markets, strategic planning, current state assessments and target operating models. Ability to assess evolving regulatory guidelines and potential impact on financial services organizations operationally and strategically.
Mr. Johnson received his Bachelor of Science in Management and International Business from Penn State University where he was a Bunton Waller Scholar and Division 1 athlete and his MBA in Finance and Accounting from New York University.
