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Weekly Mortgage Market Update for July 21, 2017

By
Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035
 

For the Week Ending July 21, 2017

 

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

 

 

Jobless claims hit a near 5-month low this week, supporting economic growth. Sustained labor market strength could contribute to higher rates.

The failure to pass a new health care reform bill has traders questioning possible tax cuts and infrastructure spending, and is supportive of lower mortgage rates.

Recent economic data has cast doubt on whether the Fed will raise policy rates again this year. Lack of inflation is supportive of lower mortgage rates.

 

Home builder sentiment was down slightly in July due to increased cost of materials, but the overall outlook is still considered positive.

June housing starts were much higher than expected, rebounding from 3 months of decline. May's numbers were also revised higher by 0.03 million units.

Building permits shot up 7.4% in June, the highest level since March, signaling more new home building to come. Building completions surged 5.2% as well.

 

 

Never criticize someone until you have walked a mile in their shoes. That way, when you criticize them, you'll be a mile away and you'll have their shoes.

 

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 candiffer from our own and are subject to change at any time.

 

Here is the Video version of this information: 

Check out what investors and home builders are thinking. It will only take a minute!

Learn more about both in this week's Markets in a Minute:

 

If you have any questions on the market, loan qualification, or just want to get started on your loan, click the button below to get started online, or give me a call at 866-900-2342 toll free direct. 

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