From the Desk of Mark Greene – “the mortgage guy”

Current Mortgage Rates

30 FRM to $417,000, 4.625%, 0 points, 4.655% APR

30 FRM to $729,750, 4.75%, 0 points, 4.775% APR

 FHA30 FRM to $729,750, 4.375%, 0 points, 4.405% APR

Jumbo 30 FRM, 5.125%, 0 points, 5.140% APR

 

Modest Economic Improvement, More Fed Help Possible, Rates Move Lower:

The number of Americans filing first-time claims for unemployment benefits dropped last week to the lowest level since April, a sign weakness in the labor market may be starting to abate. Labor Department figures showed applications for jobless benefits decreased 22,000 in the week ended July 9 to 405,000, Economists median forecast was for 415,000 claims.

U.S. wholesale costs (Producer Price Index or PPI), dropped more than forecast in June, restrained by the biggest decrease in energy prices in two years. The 0.4% decline in the Producer Price Index followed a 0.2 % gain in May.

Federal Reserve Chairman Ben Bernanke signaled the Fed has more tools for monetary easing should the economy weaken and stymie efforts to generate jobs for 14.1 million unemployed Americans.

 Mark Greene | Mortgage Loan Originator NMLS 350534
Real Estate Mortgage Network, Inc.
70 Grand Avenue, Suite 109

River Edge, NJ   07661

O: 201-298-6888 | F: 201-621-4390 I C: 973-783-6970

E: mgreene@remn.com / www.markgreene.remn.com