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Financial Trends
Volume was up 5% over the previous week thanks to long term interest rates falling again
Overall National Home Price Index rose over 3% in July
Fannie jumped 26% to $3.42 late Monday morning, Freddie Mac rose 25% to $3.22
An uncertain economy with no sense of urgency to lock in on a low rate leaves little incentive to move quickly
Even if people do not have banking history, they do have an online footprint
Moderate Income earners are likely priced out of the market, particularly in major cities
Analysts continue to be concerned with limited growth potential
While almost 100% of analysts were predicting at least one rate cut, the June jobs report changed the equation
“That would be like pressing on the gas and the brakes at the same time.”
Not every bank customer is prepared to take advantage of the situation if the rates go lower
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