Steve Cook
Since 2009, Steve has been the editor and co-publisher of RealEstateEconomyWatch.com, which was named as one of the top national news sites dedicated to residential real estate by the National Association of Real Estate Editors. Steve has represented and written about hundreds of domestic and international companies as well as foreign governments, national trade organizations and political campaigns. He has worked with many of the leading online real estate companies, including Move Inc., ForeclosureRadar, MRIS and Closing.com. Steve also served as vice president of public affairs for the National Association of Realtors. In 2006 and 2007, he was named one of the 100 most influential people in real estate by Inman News Service. He has been a broadcast news correspondent and served two members of Congress as press secretary. He is also a member of the National Philharmonic Chorale. Steve lives in Silver Spring, MD with his wife and two pugs, Jesse and Momo.
Mortgage rates held steady this week. Overall inflation grew an underwhelming 0.2 percent year-over-year in July, but core inflation remains steady at 1.8 percent keeping chances alive for a potential rate hike in September. Housing markets have responded positively to low mortgage rates -- the 30-year fixed mortgage rate has been below four percent for five consecutive weeks.
Interest rates as measured by Freddie Mac’s Primary Mortgage Market Survey ended a four week decline and nudged higher this week in response to modest wage growth and a precipitous fall in the Chinese yuan.
Rates on a 30-year fixed mortgage dipped below 4 percent this week, according to Freddie Mac’s weekly Primary Mortgage Market Survey, significantly below rates a year ago at this time, the 30-year FRM averaged 4.12 percent.
A mixed bag of blue chip earnings reports this week dropped Treasury yields and fixed mortgage rates responded by moving slightly lower in Freddie Mac’s Primary Mortgage Market Survey® today. Yet fixed-rate mortgages still averaged lower than they were a year ago.
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