Weekly Mortgage Market Update for 04-07-2017

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

 

For the Week Ending April 7, 2017

 

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

 

 

Economic activity in the manufacturing sector expanded in March for the 94th consecutive month. The non-manufacturing sector also grew, for the 87th month.

Another sign of the improving economy is the strong labor market. This week's jobs data has continued to show new job growth and low unemployment.

Minutes from the last Fed meeting show they're looking to reduce asset holdings. The Fed currently holds over $4 trillion in Treasuries and mortgage securities.

 

Home prices appreciated by 1% in February and 7% year-over-year. CoreLogic forecasts home prices will rise by 4.7% in the year going forward.

Newly built homes have gotten pricier over the last 10 years, with most homes selling above $250,000. Builders blame regulatory burdens for the increases.

The most recentCensus Bureau stats show townhomes as the fastest growing segment of the single-family housing construction market, with a 17.8% surge.

 

 

I asked the corporate wellness officer, "Can you teach me yoga?"

She said, "How flexible are you?"
I replied, "I can't make Tuesdays."

 

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: 

Searching for this week's economic and housing news? Look no further! It's right here, and 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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Brian Skaar

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