Interest Rate Update: Week of January 23rd

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Last week: Comments from Fed officials and stronger than expected economic data were negative for mortgage rates this week. Renewed concerns about the United Kingdom's exit from the European Union offset a little of the increase, but mortgage rates ended the week higher.
 


Current rates (excellent credit, SFR, owner-occupied): The week opens with the same conventional rates as last week: 4.125% for a 30 year loan and 3.25% for the 15 year.

Future/Overview: Looking ahead, additional information about policy changes under the Trump administration could continue to affect mortgage rates. Existing Home Sales will be released on Tuesday and New Home Sales will come out on Thursday. The first reading for fourth quarter GDP, the broadest measure of economic growth, will be released on Friday.

*Update provided by Andrew Chelton, Mortgage Loan Originator at F&M Mortgage

Interest Rate Update

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Here is your weekly interest rate update, courtesy of Andrew Chelton at F&M Bank.

Current rates (excellent credit, SFR, owner-occupied): F&M opens this week with the same conventional rates as last week: 4.00% for a 30 year loan and 3.25% for the 15 year.

Future/Overview: Looking ahead, additional information about policy changes under the Trump administration could continue to affect mortgage rates. The Consumer Price Index (CPI), a widely followed monthly inflation report, will come out on Wednesday. CPI looks at the price change for goods and services which are purchased by consumers. Industrial Production, an important indicator of economic activity, also will be released on Wednesday. Housing Starts will come out on Thursday.
 

January Newsletter

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Fine Living from Your Perspective
We are so grateful for wonderful clients like you, and look forward to serving you in 2017.

Cheekwood Winter Discount Days
Enjoy half-price admission during Cheekwood's Winter Days Discount promotion! See pricing guide here.

 


Nashville Predators vs. Boston Bruins

Thursday, January 12th, 7pm @ Bridgestone Arena Get tickets here!
 



HARLEM GLOBETROTTERS 2017
Saturday, January 15th @ Bridgestone Aren. Purchase tickets here.

Founded in 1992 in Brentwood, Tennessee, Churchill Mortgage is a prominent and financially sound leader in the mortgage industry, providing Conventional, FHA, and VA residential mortgages in a majority of states. We have earned the reputation as a mortgage company that can get loans done that other companies have not been able to. And the fact that we receive most of our business by referrals sets us even further apart.

We're also the only mortgage company that financial author and talk show host, Dave Ramsey, discusses on his show. Dave's willingness to feature Churchill on his show is based on his personal knowledge of Churchill's owner and executive staff, as well as his confidence in Churchill's service commitment to each and every customer.

VISION STATEMENT

  • As a company, we will consistently deliver 110% of our client’s expectations in every real estate transaction, thereby adding true value to every relationship.
  • As our name defines, our performance will become the standard by which all other brokerages are measured.
  • As our Faith requires, we will be guided by Christian principles in every decision. Honesty, Integrity, Fairness, and strength of Character will be our guideposts.
  • As our family deserves, we will allocate the appropriate attention to our personal lives in order to receive the support we need in our professional endeavors.
  • While maintaining these guiding ideals, Benchmark Realty will become the primary market force in residential real estate within the Greater Nashville area, beginning with Williamson County.

NASHVILLE, Tenn. (Jan. 9, 2017) – There were 3,280 closings during the month of December, according to figures provided by Greater Nashville REALTORS® (formerly the Greater Nashville Association of REALTORS). This is a 2.7 percent increase from the 3,194 closings reported for the same period in 2015.
     Fourth quarter closings were 9,582 for the Middle Tennessee area. That total is an 11 percent increase from the 8,621 closings during the fourth quarter of 2015. 
     Final numbers for 2016 indicate there were 38,954 homes sold in the region. Compared to the 36,873 closings in 2015, the total sales for 2016 were up 5.6 percent. 
    
Read the rest of the story on GNAR.