Weekly Mortgage Market Update for November 23, 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 23, 2018

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

 

Concerns over turmoil in Britain and their Brexit deal caused investors to seek safe haven in bonds. This helped mortgage rates improve this week.
Stocks continued to suffer losses this week, as the S&P 500 and DJIA both saw 2018 gains erased. There's some speculation the economy could be cooling.
Jobless claims rose to a 4-month high last week. However, the underlying trend remained consistent with a tightening labor market.

 

Home builder sentiment posted the biggest drop in 4-1/2 years in November. Rising rates, tight inventory and increased costs are concerning home builders.
Home building, however, rose in October, with a strong rebound in multi-family housing projects. Single-family home construction fell for a 2nd straight month.
Existing home sales rose slightly in October as well, snapping a 6-month streak of declines. The median house price rose 3.8% from a year ago, to $255,400.

 

What is the Thanksgiving Theory of Relativity?
The turkey gets stuffed. You get stuffed.
Relatively speaking, you're better off.

 

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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