Weekly Mortgage Market Update for September 20, 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 20, 2018

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

 

Mortgage rates crept up this week to the highest levels since May. Market indicators and analysis suggest they will not fall any time soon.
Consumer sentiment rose to a 17-year high last week. Confidence improved as consumers grow more optimistic about the economy and their personal finances.
The labor market also continues to show strength and is considered at or near full employment. Unemployment filings for last week fell to a near 49-year low.

 

Home builder sentiment rose unexpectedly in September to its strongest level in 11 months, prompted by renewed interest in purchases following a summer lull.
Housing starts rose in August, boosted by a jump in multifamily construction and a rise in single-family homebuilding. Building permits, however, fell slightly.
Existing home sales were unchanged in August, following 4 months of declines. Supply continues to be an issue, although demand remains strong.

 

I just got a job as a senior director at Old McDonald's Farm. I'm the CIEIO.

 

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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