The mortgage rates for a 15 year fixed-rate rose again from 5.98n to 6.09,
the rate for a 30 year fixed mortgage has risen from 6.34 to 6.42.

New Homes sales drop to a 7 year low. The Commerce Department announce new homes builds in August dropped 8.3 %. In August the median sales price for new homes dropped 7.5 per cent from last years to $225,700. This is the biggest dropped in 37 years. Besides a sharp drop in homes sales, The demand for big ticket items has fallen sharply suggesting our economy is losing it’s thrust as we head into autumn.

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