Oregon Mortgages

ISM index report published

The ISM index rose to 54.7 for the month of July. What does this mean? Well it means that the trade executives that they surveyed about business conditions expect stronger manufacturing activity which indicates economic growth which in turn keeps inflation concerns in the public eye. The predicted reading was to be 53.5 originally but as you can see it came in a little higher.

This can affect Mortgage Rates if inflation becomes a strong concern we could see the Feds (oh how we love them so much!) raise the rates. I’ll keep everyone posted. The good news is that rates aren’t expected to change this morning at least not from what I’ve received so far. Stay tuned!