Greenway's Markets in a Minute I Rates hold steady after midterm elections
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| For the Week Ending November 9, 2018 |
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Please enjoy this quick update on what happened this week in the housing and financial markets.
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The Fed didn't raise policy rates at this month's FOMC meeting but is expected to raise rates in December. Mortgage rates will likely remain unaffected. |
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The midterm election results are not expected to slow economic growth. As a result, the outcome did not adversely affect stock and bond markets either. |
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Manufacturing activity slipped for a second month in September yet still pointed to growth. Construction spending was up slightly at 0.1%. |
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Year-over-year purchase applications have held steady despite rising rates, falling 0.2% last week. |
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Last month, consumer housing sentiment fell to its lowest level in a year. Fewer consumers expect home prices to rise or mortgage rates to fall. |
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A recent study shows Gen Z is eager to get an early start on homeownership. They're twice as likely as previous generations to start saving for a home by age 25. |
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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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[VIDEO] Documenting Large Deposits in Mortgage Transactions with Erin the Expert
Have a side gig? Just got married? Received a sizeable gift from a relative?
When you're applying for a mortgage these situations are important, can have a significant impact on your qualification and must be documented in a specific way.
Erin the Expert is out with the latest video in her series on mortgage topics.
Reach out to Erin by phone, text or email:
- (908) 489-4657
- erin.carvelli@greenwaymortgage.com
Check out the other videos in the series:
- Financing Your Closing Costs
- 5 Steps to Qualification
- Benefits of a Boutique Lender
- Erin the Expert | Q&A
- Understanding Seller Concessions (article)
Want to set some time to speak with Erin directly? Click here. If there's anyone that can get a deal done it's Erin the Expert. #ETE
And if you like podcasts, check out Erin's MortgageCast too. She keeps it short and cuts right to the meat of each topic.
Laura and her assistants, Nimbus and Nico, bring you this week's mortgage term, Principal.
Connect with Laura
- Call or text: (848) 218-3082
- Email Laura - Fast response
- Laura's LO page (get pre-approved)
- Watch on YouTube (follow us there)
Greenway's Markets in a Minute I Homeownership Rate Increases!
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| For the Week Ending November 2, 2018 |
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Please enjoy this quick update on what happened this week in the housing and financial markets.
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Consumer spending rose for a 7th straight month in September, but personal income recorded its smallest gain in more than a year on moderate wage growth. |
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Companies continued to hire at a brisk pace in October. Private payrolls rose by a better-than-expected 227,000, according to ADP and Moody's Analytics. |
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Despite a strong labor market and increasing inflation, the Fed is not expected to raise policy rates at next week's meeting. A December rate hike is likely though. |
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According to Case-Shiller, home price gains tempered to a 5.8% yearly increase in August. This is slightly lower than prior readings yet still a healthy rate. |
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Mortgage application volume fell 2.5% last week compared to the previous week. Refinance applications were down 4% last week after previously improving. |
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Despite low inventory, the national homeownership rate was 64.4% in the third quarter. That's a half-percentage point higher than it was a year ago. |
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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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For more information on Greenway's Jumbo Alternative Program contact us today.
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