Florida Home For Sale

30 Year Fixed Mortgage Rates 5.625/5.927%    as of July 15th                                              Housing News Demand for mortgages declined for the 2nd week, led by a dip in purchase apps, which fell 4% from the previous week. According to the Mortgage Bankers Association, the average purchase loan amount fell to $415K last week, down from a $460K high in March. NAR's 2022 Member Profile showed that despite competition and low inventory, members’ median income rose $11K to $54,300 last year. The ECONOMY: Inflation rose 9.1% in June, even more than the expected 8.8%. The increase seems to counter the narrative that inflation is peaking. With inflation still increasing, there is talk that the Fed may raise policy rates a historic 1 percent at their July meeting. The labor market remains strong despite recession concerns. Payrolls increased 372K in June...