Weekly Mortgage Market Update for September 13, 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 September 13, 2018

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

 

Trade tensions with China continue to help keep mortgage rates low. Although more talks are expected, new tariffs could be imposed any time.
Overseas central banks kept rates unchanged this week. Since many overseas investors buy U.S. Treasuries and bonds, this helps keep rates low.
The Fed meets next week for their Federal Open Market Committee meeting. They are expected to raise policy rates, but mortgage rates should be unaffected.

 

Homes for sale are not lingering on the market for long. Properties typically sold in 27 days, shorter than the 30-day median from a year ago.
Although mortgage rates have moved up a bit, mortgage purchase applications were actually up 1% over the previous week and were up 4% over last year.
Younger Americans are waiting longer to get married, according to CNBC. However, marrying later means they could have more money for home buying.

 

Police have arrested the World Tongue-Twister Champion. I imagine he'll be given a tough sentence.

 

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 can differ 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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