Weekly Mortgage Market Update for June 29, 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 June 29, 2018

 

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

 

 

Consumer confidence was down slightly in June, suggesting economic growth may temper a bit. Economists said trade dispute concerns were to blame.

Some economists even think that escalation of trade tensions could tip the economy into recession. However, the Fed doesn't seem too concerned yet.

The economy did slow more than previously estimated in the 1st qtr. But growth appears to have accelerated again on the back of a strong labor market.

 

New home sales climbed 6.7% in May, led by sales in the South. New home sales have risen 8.8% for the first 5 months of 2018.

Home values continue to rise, but at a slightly slower pace than we've seen recently. In April, values tracked at 6.4% annually, down from 6.5% in March.

Pending home sales slipped, falling for the 5th straight month in May. Tight inventory continues to get the blame.

 

 

The early bird may get the worm, but the second mouse gets the cheese.

 

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. 

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Brian Skaar

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