Lake Tahoe Home Loan Rates and Lake Tahoe Mortgage Rates:
Americans filing for first time unemployment benefits fell in the latest week as weekly initial jobless claims dropped 9,000 in week ended June 22. That was above the 345,000 expected and has been in the same range for some time now as the jobs market continues to improve. The four week moving average, which smoothes out any seasonal abnormalities, fell 2,750 to 347,750, a five year low.
Inflation remained tame in May as evidenced by the Core Personal Consumption Expenditures (PCE) rising by just 0.1%, inline with estimates. The “Core” PCE price index is defined as personal consumption expenditures (PCE) prices excluding food and energy prices. The core PCE price index measures the prices paid by consumers for goods and services without the volatility caused by movements in food and energy prices to reveal underlying inflation trends.
The National Association of Realtors reported this morning that Pending Home Sales for May rose to their highest level since late 2006. The index jumped 6.7%, well above the 1.5% expected. The recent rise in rates helped in getting potential borrowers off the fence and take the plunge. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.