• The Commerce Department reported new home sales jumped 9.6% in July to a seasonally adjusted annual rate of 433,000 the highest since September 2008.
• Consumer confidence index rose to 54.1 in August from a revised 47.4 in July.
• The Standard & Poor’s / Case-Shiller 20-city housing price index rose 1.4% in June, following a 0.5% increase in May.  It was the first quarterly gain since 2006.
• Orders for durable goods — items expected to last three or more years — rose 4.9% in July. Initial claims for unemployment benefits fell by 10,000 to 570,000 in the week ending August 28th
  

Also YTD the Fed has spent $792B of the $1.25 Trillion set aside for Mortgage Backed Securities (MBS) - As mentioned in the past the Fed's purchase of Mortgage Backed Securities has been the reason for the lower mortgage rates during the credit crisis.

All of this news points to what we know that rates must get higher. This combined with the pending expiration of the $8000 tax credit should move buyers off the side line. 
 

Be loud, be vocal and be assured that now is the best time to buy. 
 

Today's Rates:

30 YR Fixed - 5.000%
30 YR FHA - 5.125%
15 YR Fixed - 4.875%
5/1 ARM - 4.125%
7/1 ARM - 4.750%
30 YR Fixed JUMBO - 6.125%
5/1 ARM Jumbo - 5.250%
7/1 ARM Jumbo - 5.500%

Rates are subject to change and are based upon 1% origination fee. 

The Valeo-Croy Team and Cunningham and Company Mortgage Bankers are Equal Housing Lenders.