Weekly Mortgage Market Update for January 24, 2018

By
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 25, 2019

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

 

The government shutdown continues to impact markets, with delayed economic reports keeping investors in the dark. Mortgage rates are unaffected so far.
Plenty of global economic reports are available to cause concern for traders, though. China and Europe both show signs of slowdown.
Jobless claims fell to a 49-year low last week. However, claims for several states were estimated and may be overstating the health of the labor market.

 

Existing home sales fell by 6.4% in December, an unusually large drop likely caused by October's rapid rate increase. Rates have since retreated.
The supply of homes for sale rose more than 3% compared with a year ago. Low supply has been stifling sales since last spring.
Unconventional mortgages are making a comeback. Lenders issued $34 billion in non-QM loans in the first 3 quarters of 2018, a 24% increase year-over-year.

 

"Success is not final, failure is not fatal; it is the courage to continue that counts."


Winston Churchill

 

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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