July is typically one of real estate’s slower months – vacations, good weather, and school just getting out all contributing to this condition. This year has been no exception! The real estate market is feeling the results of the sub-prime fall out, and many buyers are waiting to see what happens with this market and holding off on their purchases. As the start of school approaches and vacations are winding down, the market (historically) will begin to pick up. I’ll let you know next month!

Interest rates have risen to 6.375% for a 30-year fixed with no points.