Weekly Mortgage Market update for March 7, 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 March 7, 2019
 

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

 

A U.S./China trade deal may be close, after months of trade disputes. If a deal is signed, it could put some pressure on rates, as stocks may rally on the news.
The ECB statement this week reinforced concerns about a global economic slowdown. Weak global economies have helped to keep rates low here at home.
Private payrolls were up 183,000 in February, according to ADP. Unemployment claims last week were down, pointing to strong labor market conditions.

 

Construction spending unexpectedly fell in December, after an increase in November. Only part of the drop was for private residential projects though.
New home sales hit a 7-month high in December, the highest level since May 2018. Mortgage rates are hovering near a 12-month low.
A recent survey showed over 79% of Americans still believe that owning a home is a vital component to achieving the American Dream.

 

"Yesterday is not ours to recover, but tomorrow is ours to win or lose."
Lyndon B. Johnson

 

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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