Good News/Bad News: Economy Accelerates in 2Q
The U.S. economy grew 2.4%, up from 2% in the first quarter, indicating a still-robust economy that adds pressure on the Fed to raise interest rates again.
NAR: June Pending Sales Rose 0.3%
“The recovery has not taken place, but the housing recession is over,” says NAR’s chief economist, after the first pending-sales increase in three months.
30-Year Mortgage Rates Head Back Up, Hit 6.81%
After moving closer to 7% and then falling last week, the 30-year, fixed-rate moved a bit higher from last week’s 6.78%. A year ago, the rate averaged 5.3%.
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