Weekly Mortgage Market Update for June 22, 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 June 22, 2018

 

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

 

 

 

Tariffs imposed by President Trump have elicited retaliation from countries around the globe. Concerns about a trade war have helped mortgage rates.

Fed Chair Powell recently confirmed the case for continuing to raise interest rates remains "strong." He cited solid economic growth and full employment.

Jobless claims have fallen for the 4th straight week. Employers are increasingly reporting labor shortages, which are likely to lead to wage growth and inflation.

 

Home builders are excited by strong demand for housing. However, they are frustrated with labor shortages and rising costs for lumber.

New housing starts surged to an 11-year high of 1.35 million in May. Both single-family and multi-family home construction increased.

Existing home sales fell last month, as a shortage of properties pushed prices to a record high. At May's sales pace, unsold inventory is at a 4.1-month supply.

 

 

Knowledge is knowing a tomato is a fruit; wisdom is not putting it in a fruit salad.

 

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: 

There's a mixture of concern and optimism in this week's housing and economic news. Check it out!

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. 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Tags:
weekly mortgage market update
brian skaars weekly mortgage market update

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
553,857

Brian Skaar

VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
Let's get started:
*
*
*
*
Spam prevention

Additional Information