Market Review For The Week Ending 9/14/18

By
Real Estate Agent with RE/MAX Realty Center
09-13-2018
 

EQUITY INCREASE

Homeowners are in the money according to Black Knight Financial Services' (BKFS) latest Mortgage Monitor Report. BKFS says that the amount homeowners can borrow to keep their mortgages at or below 80% of the total value of their homes has reached an all-time high. "Tappable equity" grew by $256 billion in the second quarter and now totals $636 billion.

 

RATES RISE

Interest rates for 30-year fixed rate mortgages rose for the second consecutive week and are up three-quarters of a point over the same time last year according to Freddie Mac's Primary Mortgage Market Survey for the week ending September 6. Freddie notes that investors are optimistic about the economy's strength in spite of rising borrowing costs.

 

GENEROUS JOBS

The latest Job Openings and Labor Turnover Survey (JOLTS) from the U.S. Department of Labor showed open positions at a record high. While economists note that labor demand could lead to wage growth, there are also concerns that a lack of "worker supply" could slow overall economic growth.

 

FIDO FACTOR

A recent Realtor.com survey revealed the real decision-makers in the home buying process: 79% of respondents said they would pass on their dream home if it didn't work for their pet. Realtor.com Chief Economist Danielle Hale says, “It’s not terribly surprising that when pet owners are buying a home, their best friends get what they want."

Sources: Black Knight Financial Services, Freddie Mac, U.S. Department of Labor, Realtor.com

 

Michael Creed
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Michael Creed
Envoy Mortgage
Branch Manager, NMLS # 50441
P: 262.696.9048
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mcreed@envoymortgage.com
20300 Water Tower Blvd, Suite 215
Brookfield, WI 53045
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Rainmaker
1,054,278
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good day 

Thank you for sharing your information with us 

Have a great day.

09/15/2018. 

Sep 15, 2018 01:46 PM #1
Rainmaker
1,137,860
Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

Your real estate market reports are very helpful for those looking to buy or sell. Thanks for the update. 

Sep 16, 2018 02:18 AM #2
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market and the economy.  Thank you for sharing 

Sep 16, 2018 05:31 AM #3
Rainmaker
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Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Thanks Anthony Joyce and Gita

Sep 16, 2018 06:35 AM #4
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Rainmaker
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Kristin Johnston - REALTOR®

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