Happy Friday Everyone! Let’s get right to it!
Highlights from this week:
Global financial markets are nervous about the COVID delta variant & its impact globally. Therefore we saw a downplay on stock market, positively impacting mortgage rates.
Housing starts in June went up 4.6%. However completion is down as we are still seeing labor and supply issues in housing market
Existing home sales showed closed transactions for the month of June up 1.4% month over month.
Cash buyers are making up 23% of all transaction, which is up from a record high of 16%.