Lake Tahoe Home Loans and Lake Tahoe Mortgage Rates:
The Mortgage Bankers Association reported today that its Market Composite Index, a measure of loan application volume, fell by 4.6% in the latest week as home loan rates rose 12bp to 4.68%. The refi index fell 8% while the purchase index was up 1%.
The housing sector got a boost this morning as Existing Home Sales rose 6.5% from June to July to 5.39 million units annualized and above the 5.10 million expected. On a year-over-year basis, sales are up 17.2%. The median home price is up 13.7% since last year this time to $213,500 and was the 17th monthly rise.
Package carrier UPS announced today that it will be removing thousands of spouses of white collar workers from the UPS healthcare plan who can receive health coverage at their employers beginning this fall. UPS said that it will impact the spouses of 15,000 employees and cites the new health care laws as one of the factors behind the move.