Posts in category 'Tips For Buyers'
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16
From Our Lending Partners at Idaho Central Credit Union
Low Inflation Helps Keep Rates at Record Lows
Overview
During a light week for economic data, investors remained focused on the concerning spread of the coronavirus in many regions. Mortgage rates dropped slightly to new record-low levels.
Reduced economic activity resulting from the pandemic has caused a significant decline in inflation, which has helped keep mortgage rates low. The Consumer Price Index (CPI) is a widely followed monthly inflation report that looks at the price change for goods and services.
In June, core CPI, which excludes the volatile food and energy components, wasÂ...
15
From Our Lending Partners at Idaho Central Credit Union
Economic Activity Picks Up
Overview
The data released over the past week revealed an unprecedented decline in economic activity resulting from the pandemic, but also indicated that recovery has already begun. Mortgage markets have been relatively quiet, and rates again ended the week with little change.
Following growth of 2.1% in the fourth quarter of 2019, gross domestic product (GDP), the broadest measure of economic activity, fell 5.0% in Q1 2020, which was the weakest reading since 2008. As bad as that was, however, it does not even come close to the expected decline for the second quarter....