Weekly Mortgage Market Update for December 14, 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 December 14, 2018

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

 

The Fed's plans to continue raising policy rates next year may be on hold. However, a policy rate hike at next week's FOMC meeting is still likely.
The core consumer price index, which is a key measure of inflation, picked up in November. Inflation could put pressure on mortgage rates to move higher.
Unemployment claims fell to a near 49-year low last week. The drop could ease concerns about a slowdown in the labor market and economy.

 

Data for November shows mortgage applications for newly constructed homes were down 14% from October. Applications were also down 11% year over year.
Freddie Mac is helping to lower utility bills for hundreds of thousands of low- and middle-income renters. It's part of their 3-year "Duty to Serve" plan.
Freddie and Fannie Mae have announced a nationwide suspension of eviction lockouts on foreclosures for the holiday season, from Dec. 17 through Jan. 2.

 

"Success is where preparation and opportunity meet."

- Bobby Unser

 

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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