St. Louis Home Plans

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New Systems HVAC

New Systems HVAC is on of the most trusted St. Louis Air Conditioning companies.  Many of my clients have used them for St. Louis Air Conditioners, St. Louis Heat Pumps, and St. Louis Heat Pump needs.

30 Fixed/apr | 6.000% /6.100%

30 FHA/apr | 6.000% /6.750%

15 Fixed/apr | 5.750% /5.825%

St Louis Best Mortgage Rates [1% Point]

30 Fixed/apr | 5.625% /5.825%

30 FHA/apr | 5.625% /6.225%

15 Fixed/apr | 5.500% /5.700%

The Government takeover of Fannie Mae and Freddie Mac is making its mark on the bond market.  Mortgage Backed Securities are up +150bp!  Fannie Mae mortgage bonds now are guaranteed by the US Government and investors are buying them up.  This should help drive down mortgage rates and hopefully get the housing marketing moving again.  With Mortgage Bonds being such a hot commodity the US Government now will need some low risk mortgages to secure them against.  I do not personally believe the mortgage crisis is over, but low mortgage rates can’t hurt our industry!

Inflation, Inflation, Inflation!  Today the Philly Fed President Charlie Plosser said that inflation is too high and the Fed would have to “back up their words with action”.  The Fed will need to begin hiking the Federal Funds rate as soon as possible to fight inflation.  It seams that we are at the rock bottom with mortgage rates assuming the Fed starts to take action and raise their Feds Cut Rate.  Mortgage backed securities are -44bp on the day at 99.12.

Durable Goods Orders May | [WED] | E 0.0 | P -0.5% | modest

New Home Sales May | [WED] | E 510,000 | P 526,000 | modest

Crude Inventories 6/21 | [WED] | P -1,242,000 | modest

Next Fed Meeting | [WED] | elevated impact

Initial Jobless Claims 6/21 | [THU] | E 375,000 | P 381,000 | modest

Gross Domestic Product Q1 | [THU] | E 1.0% | P 0.9% | modest

GDP Chain Deflator Q1 | [THU] | E 2.6% | P 2.6% | modest

Existing Homes Sales May | [THU] E 4,900,000 | P 4,890,000 | modest

Personal Spending May | [FRI] | E 0.7% | P 0.2% | modest

Personal Consumption Expenditures May | [FRI] | E 0.2% | P 0.1% | elevated impact

Core PCE Year | [FRI] | P 2.1% | elevated impact

Personal Income May | [FRI] | E 0.4% | P 0.2% | modest

PPI comes in red hot with Food and Fuel prices pushing inflation.  The Core PPI hit expectations and held onto the 3% year over year gains.  Inflation with no hope of the Fed bailing out investors should help push bond prices higher as investors move to a flight to quality in Mortgage Backed Securities.  Mortgage Bonds have hit a floor of support and bounced Monday and Friday off.  This usually signals a reversal. 

Core PPI May | 0.2% | E 0.2% | P 0.4% | modest

Building Permits May | 969,000 | E 950,000 | P 978,000 | modest

Housing Starts May | 975,000 | E 980,000 | P 1,032,000 | modest

Capacity Utilization May | 79.4 | E 79.7 | P 79.7% | modest

Industrial Production May | -0.2% | E 0.1% | P -0.7% | modest