Weekly Mortgage Market Update for March 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 March 2, 2018


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



New Fed Chair Jerome Powellappeared for his first timein front of Congress this week. He moved markets with his upbeat economic views, pressuring rates.

Consumer prices increased in January, and inflation posted its largest gain in 12 months. Inflation pressures rates higher, including mortgage rates.

The labor market continues to show strength as well. Filings for unemployment benefits fell last week to the lowest level in almost five decades.


Home prices accelerated in December, according to a recent Case-Shiller report. Prices were up 6.4% year-over-year with continued strong buyer demand.

Pending home sales were down 4.7% in January. However, the drop is likely due to tight inventory and bad weather rather than increased mortgage rates.

Buyer traffic was strong in January, but listings fell to an all-time low, down 9.5% year-over-year. This can continue to fuel price gains.


Middle age is when work is a lot less fun, and fun is a lot more work.


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: 

What do mortgage interest rates and home prices have in common? There's pressure to move up. Learn more about it!

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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