Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days.
Some Highlights:Interest Rates are still below historic numbers.88% of property managers raised their rent in the last 12 months!Credit score requirements to be approved for a mortgage continue to fall.
The Consumer Price Index (CPI) was released by the Labor Department last week. An analysis by Market Watchrevealed the cost of rent was 3.8% higher than a year ago for the second straight month in June. That’s the strongest yearly price gain since 2007.