Weekly Mortgage Market Update for August 16, 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 August 16, 2018

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

 

Instability in the Turkish economy has concerned investors in markets globally. A flight to safety in U.S. bonds has helped mortgage rates this week.
Bolstered by a strong economy, small business confidence is at a 35-year high. Owners are reporting difficulty in filling positions, a sign of the strong labor market.
Jobless claims fell for a 2nd straight week last week. The data suggests there is no impact yet on the labor market from ongoing trade tensions.

 

New home construction was less than forecast in July, but still increased 0.9%. Permits for future construction were up 1.5% over the previous month.
Homebuilder sentiment fell to the lowest point in almost a year as affordability becomes a bigger worry. However, demand remains strong as rates remain low.
Home searches are stretching on longer as buyers look for the perfect space. Buyers say they are not finding the features they want or a price they can afford.

 

Don't be sad if a bird poops on your head. Instead, be happy that dogs can't fly.

 

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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