The Economy:
Unemployment claims were up slightly but still remain low. The strong labor market could persuade Feds to increase the policy rates this year.
Housing News:
Home renovations are up from last year. The best year for home renovations was 2005 and the market is up 2.8% from that year. Renovating is popular right now because of lower inventory. Academy Mortgage Mesa has a couple of different options on home improvement loans.
Building permits dropped slightly but new housing starts were up 6.5% in September.
The increase in new home construction will help alleviate the lower inventory. Builders are at a higher confidence level about the current market. The NAHB (National Association of Home Builders) index rose to 64, which is 10 points higher than last year.
Academy Mortgage AZ would be happy to answer any questions about new home build financing or any other question. www.academymortgageaz.com
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