To find out if now is the time to buy, check out this week's mortgage highlights:
- Mortgage rates mostly leveled off this week, even as economic data remained strong and more signs of price pressures mounted.
- The ISM Services Index posted a record high of 63.7, and the Producer Price Index’s core reading spiked 0.9%.
- The minutes from the Federal Reserve’s most recent meeting aligned with what most economists are predicting – the economy is heating up, quickly. Chair Powell sat for a 60 Minutes interview Sunday night and reaffirmed that the Fed is very unlikely to raise rates in 2021.
- The Fed remains committed to allowing inflation to run hotter than it usually would and will continue its purchase programs to help recover some 9 million jobs that still remain lost to the pandemic.
- The biggest risk to the US economy is still the virus. Should we see increasing virus counts and a return to restrictions, we could see the economy slowing down once again.
- Economic data this week is likely to confirm further that the recovery continues to gather steam. But with growing virus case counts, rates may not move upward too far as the risk of restrictions rises.
Time for Termites and other Spring Pests
Orkin, a well-known pest control company, is reporting an uptick in termite treatments across the country over the past year. With more people at home, it appears that more issues, including termites, are being discovered. Statistics reveal that termites damage over 600,000 homes per year. Sadly, that damage often goes unnoticed until it derails a home sale after an inspection. Always be sure to monitor both inside and outside of your house for signs of pests doing damage.
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