Weekly Mortgage Market Update for May 10, 2018

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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 May 10, 2018

 

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

 

 

The consumer price index, which measures inflation, was slightly lower than expected in April. Lack of inflationary pressure helps keep rates lower.

The producer price index was also a bit lower than April's forecast, another sign of lower inflation pressure. Prices rose 0.1% instead of the expected 0.3%.

Oil prices continue to rise, hitting the highest levels since 2014. Increasing oil prices could push rates higher.

 

In response to new tax code limits on property tax deductibility, NJ has enacted legislation to let homeowners declare property taxes as charitable donations.

Could more inventory start hitting the market? In a recent FannieMae survey, 45% of respondents said it's a good time to sell, a new survey high.

Amazon's Alexa system is gaining ground in powering smart homes. New home builder Lennar announced plans to include the technology in all new homes.

  

Never criticize someone until you have walked a mile in their shoes. That way, when you criticize them, you'll be a mile away and you'll have their shoes.

 

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: 

Find out about this week's economic and housing news, including a large builder's plans for smart home technology.

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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