Weekly Mortgage Market Update for January 17, 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
 
For the Week Ending January 17, 2019

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

 

The government shutdown, now the longest in U.S. history, hasn't yet slowed down the economy. It is expected to, however, the longer it continues.
Economic data has been affected though, with delays on many reports due to closed agencies. This is causing concern for investors and impacting trading.
Despite tightening labor markets and the wage pressure that can result, inflation has remained below the Fed's 2% target. This bodes well for interest rates.

 

Homebuilder sentiment improved in January after dropping for the last two months. Lower mortgage rates and higher sales expectations have helped.
Reports on monthly housing starts and builder permits weren't released this week due to the shutdown. Estimates indicate a 3% gain over December 2017.
A Fed study shows student loan debt plays a significant role in keeping many in the 24 to 32 age group from buying a home.

 

"Obstacles are those frightful things you see when you take your eyes off your goal."
Henry Ford

 

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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