Weekly Mortgage Market Update for February 2, 2018

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

For the Week Ending February 2, 2018


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



The Fed didn't raise policy rates at this week's FOMC meeting, though their announcement pointed to a likely increase when they meet in March.

Consumer spending increased in December, a reflection of the strong labor market. However, the 2.4% national savings rate was the lowest since 2005.

The Fed believes that inflation could reach their 2% target this year. Supported by a growing economy, inflation pushes rates (including mortgage rates) higher.


National home prices continued their run higher in November, rising 6.2% annually. Home prices are rising more than three times faster than the rate of inflation.

Despite tight inventory, pending home sales were up 0.5% in December over November. The supply of homes for sale is at its lowest level since 1999.

Construction spending increased more than expected in December. Private residential projects rose to their highest level since March 2007.


What did the left eye say to the right eye?
Between you and me, something smells.


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.


Here is the Video version of this information: 

Home prices are soaring, but is inflation?  

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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Brian Skaar

VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
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