SD Capital Funding’s back with another market update!
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The hottest issue in the real estate industry today is home values and home sales. Sales of new U.S. single-family homes unexpectedly fell in July to a nine-month low. Falling home sales always begs the question of how the economy is doing. When talking about the economy, we HAVE to talk about interest rates. It always comes back to interest rates!
Although rates are headed up, the average consumer feels confident about the economy, and the median new house price rose 6.0 percent to $328,700 its hard not to think about where we go from here. The combination of higher interest rates and rising home prices could eventually stall the economy.
The Fannie Mae 30 year fixed rate ended the week at 4.54%
The Eiffel tower actually grows in the heat of the summer. Due to the iron expanding, the tower grows about 6 inches every summer.