- According to the IRS, their first draft of the new 1040 form will only have 23 lines instead of 79 lines.
- New home sales in May 6.7% to annual pace of 689k new homes
- Consumer Confidence in June dropped from 128 in May to 126.
- According to Experian the average Coloradan credit score last year was 688 and the average person had 3.133 credit cards with an average outstanding balance of $6,718 on average on those cards.
- The final read on Q1 2018 GDP came in at 2%, below the second reading of 2.2%. The Atlanta Fed's model for Q2 GDP sees 4.5% growth.
- The Core PCE, the Fed's favorite inflation report, rose 0.2% and prices are up exactly 2% over the last 12 months, which is the Fed's Magic Number
- Personal income in May rose 0.4% and spending rose 0.2% last month.
- The July Jobs Report showed our economy added 213k new jobs last month with revisions for April and May showing an additional 37k jobs created.
- The Labor Force Participation Rate rose to 62.9% from 62.7% as more Americans entered the workforce.
- Wage growth remains a problem with average hourly earnings rising 0.2% down from 0.3% in May. Year over year, wage growth was 2.7%, unchanged from May.
- Conventional 30 year 4.75%/APR 4.867%
- FHA 30 year 4.50%/APR 5.54%
- FHA 30 year with a 580 Fico Score 5.50%/APR 6.554%
- FHA 30 year with a 550 Fico Score 5.75%/APR 6.804%
- VA 30 year 4.50%/APR 4.71%
- VA 30 year with 550 Fico Score 5.75%/APR 5.96%
- CHFA First Step (FHA loan) Down Payment Assistance Program 30 year fixed at 5.125%/6.165%
- CHFA Conventional Down Payment Assistance Program 30 year fixed at 5.375%/APR 5.970%
- Conventional 3% down with NO PMI 5.625%/APR 5.798%
- Jumbo 30 year 4.50%/ APR 4.617%
- Jumbo 7/1 ARM 4.125%/ APR 4.125%
Courtesy of Lonnie Glessner of Nova Home Loans
Nova Home Loans
1805 Shea Center Drive #450
Highlands Ranch, Colorado 80129
Regulated by the Colorado Division of Real Estate