Weekly Mortgage Market Update for July 26, 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 July 26, 2018

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

 

Talk of tariffs and trade concerns continue to help keep mortgage rates low. However, the strong economy and labor market could pressure rates higher.
Recent comments by President Trump about raising rates are not likely to affect the Fed's plans. One or even two policy rate increases are still expected for 2018.
The European Central Bank is seeing inflation increase overseas and should end economic stimulus this year. This could pressure future mortgage rates higher.

 

Existing home sales continued to slide in June, to a 5-month low. A persistent shortage of properties on the market drove house prices to a record high.
New home sales also dropped to an 8-month low in June. Demand remains high, but builders are struggling with labor shortages and material costs.
Fifteen more states can now accommodate fully digital home closings. A total of 265 million homebuyers can now enjoy fully online closing processes across the country.

 

I have a few jokes about being unemployed, but it doesn't matter because none of them 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 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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