Weekly Mortgage Market Update for April 6, 2018

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 April 6, 2018

 

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

 

 

Factory activity slowed in March, but growth in the manufacturing sector is still going strong. More companies showed signs of expanding than shrinking.

Tariffs on goods from China continued to dominate the headlines this week. Trade war concerns have helped keep mortgage rates from rising.

Jobless claims were up on the week, but jobless rolls fell to the lowest level since 1973. A tightening labor market could boost wage growth, leading to inflation.

 

Construction spending was up in February after being unchanged in January. Spending on private residential projects increased 0.7%, after falling in January.

Home buyers are blowing their budgets to snag their dream houses as prices rise. A third of buyers spent an average of $16k more than they planned.

Rising home prices may keep some out of the market. A recent Freddie Mac survey finds 67% of current renters view renting as more affordable than owning.

 

 

Optimist: The glass is half full.

Pessimist: The glass is half empty.

Mother: Why didn't you use a coaster?

 

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: 

Who's willing to spend more and who says owning is too costly? Find out here:

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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