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For the Week Ending January 18, 2019

 

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

The government shutdown, now the longest in U.S. history, hasn't yet slowed down the economy. It is expected to, however, the longer it continues.
Economic data has been affected though, with delays on many reports due to closed agencies. This is causing concern for investors and impacting trading.
Despite tightening labor markets and the wage pressure that can result, inflation has remained below the Fed's 2% target. This bodes well for interest rates.

 

Homebuilder sentiment improved in January after dropping for the last two months. Lower mortgage rates and higher sales expectations have helped.
Reports on monthly housing starts and builder permits weren't released this week due to the shutdown. Estimates indicate a 3% gain over December 2017. 
A Fed study shows student loan debt plays a significant role in keeping many in the 24 to 32 age group from buying a home. 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

 


For the Week Ending January 11, 2019

 

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

The government shutdown, in its third week, hasn't yet shown signs of affecting the economy. However, it has impacted some mortgage programs like USDA.
After a dismal December, stocks are rebounding, helped in part by progress in U.S./China trade talks. These improvements have pressured mortgage rates.
Although recent concerns about the economy have surfaced, the job market remains strong. Jobless claims fell more than expected last week to 216,000.

 

The recent drop in mortgage rates has sparked a jump in applications. Mortgage applications were up 23.5% from the previous week.
Just over 10% of agents surveyed by NAR said the shutdown was having an impact on their clients. Gov't and non-gov't employees alike have been affected.
More first-time buyers are turning to their parents for help with down payments. A recent HUD report shows 26% of FHA borrowers got assistance from a relative.

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.


For the Week Ending January 4, 2019


 

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

 

December's private payroll saw its biggest monthly increase in nearly 2 years, suggesting sustained strength in the labor market despite ongoing financial market volatility.
Weak performance and volatility in stocks have driven investors to the safety of bonds. As yields fall, mortgage rates are likely to drop along with them.
A dip in consumer confidence shows households may be worried about the economy. If the economy slows, mortgage rates could benefit further.

 

Home prices are still rising, albeit at a slower pace than we've recently seen. Prices were up 5.1% nationally in November 2018 over November 2017.
Although higher mortgage rates have been blamed as a factor for a slowdown in rising home prices, recent rate drops could reverse that trend.
Home equity, currently nearing $15 trillion, has surpassed its prior 2006 "housing bubble" peak by over $1 trillion. This could help expand options for current homeowners.

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.


For the Week Ending December 28, 2018


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Please enjoy this quick update on what happened this week in the housing and financial markets.

 

 

Early holiday shopping numbers are on track to break season records. However, stocks are still volatile and trending downward, despite the strong consumer spending. 
The reversal in stocks this year has helped mortgage rates improve from October levels. Although the Fed increased policy rates, mortgage rates have improved.
The economic outlook heading into 2019 is concerning investors. As they turn to the safety of bonds for protection, mortgage rates could continue to improve.

 

Annual home price gains have slowed nationwide, according to Case-Shiller. Even still, prices increased 5.5% year-over-year, holding steady from last month.
The current partial government shutdown may have some effect on mortgages and housing. Flood insurance and tax transcripts could be the most affected.
A recent survey of homeowners showed aesthetic appeal, affordability, commute times and neighborhood character were the top reasons for picking a home.

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

 


For the Week Ending December 21, 2018

 

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

 

The Fed raised policy rates this week, but lowered the number of expected rate increases for 2019. Mortgage rates were basically unaffected by this rate hike.
Stocks have been routed and fears over a slowing economy have taken over. As investors seek safety in bonds, this has helped mortgage rates improve.
The labor market remains strong though, as jobless claims were only up slightly from the previous week's near 49-year low. Claims were at 214,000 for last week.

 

Home builder confidence was down slightly in December from November. But indications are still that more builders view sales conditions as good than poor.
New home starts rebounded in November, driven by a surge in multi-family housing. However, single-family housing starts were down to a 1-1/2 year low.
Existing home sales rose unexpectedly in November. Although sales are down 2.3% in the first 11 months over last year, they've increased for 2 months in a row.

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

 


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