Weekly Mortgage Market Update for November 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 November 16, 2018

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

 

Consumer prices posted the largest increase in 9 months in October. The Labor Dept said its index rose 0.3% last month after increasing 0.1% in September.
Retail sales rebounded as purchases of cars and building materials surged. Strong sales ahead of the holiday shopping season could help the economy.
Concerns over turmoil in the Brexit deal overseas are pushing investors to the safe haven of bonds. Improving bond prices could help mortgage rates remain low.

 

Home Depot is concerned that higher tariffs could cause price increases on some products. However, sales remain strong for the home improvement retailer.
Modular and other non-site built single-family homes made up 3.3% of homes in 2017. That number is expected to rise in 2018 and the years ahead.
FSBO transactions fell to a record low of 7% of all home sales in 2018 according to NAR. That's dramatically lower than in 1981, when FSBOs were at 15%.

 

What do you call a bear with no teeth? A gummy bear.

 

Please Note: Next week's Markets in a Minute will be published on Wednesday, November 21. Happy Thanksgiving!

 

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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