Weekly Mortgage Market Update for January 4, 2019

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Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035
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For the Week Ending January 4, 2019

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

 

December's private payroll saw its biggest monthly increase in nearly 2 years, suggesting sustained strength in the labor market despite ongoing financial market volatility.
Weak performance and volatility in stocks have driven investors to the safety of bonds. As yields fall, mortgage rates are likely to drop along with them.
A dip in consumer confidence shows households may be worried about the economy. If the economy slows, mortgage rates could benefit further.

 

Home prices are still rising, albeit at a slower pace than we've recently seen. Prices were up 5.1% nationally in November 2018 over November 2017.
Although higher mortgage rates have been blamed as a factor for a slowdown in rising home prices, recent rate drops could reverse that trend.
Home equity, currently nearing $15 trillion, has surpassed its prior 2006 "housing bubble" peak by over $1 trillion. This could help expand options for current homeowners.

 

"You will never find time for anything. If you want the time, you must make it."

Charles Buxton

 

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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