Weekly Mortgage Market update for March 21, 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 21, 2019

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

 

The Fed did not raise policy rates at this month's FOMC meeting. Based on Fed projections, we likely won't see another Fed rate hike until 2020.
Jobless claims fell to 221,000 last week. That's a 4-week low, as the labor market tightens further following the 5-week government shutdown.
Inflation continues to hover below Fed expectations, contributing to concerns about a slowing economy. Low inflation can help keep mortgage rates low.

 

Home builders remain optimistic about the housing market as mortgage rates continue to fall. Lower rates can make mortgage payments more affordable.
Mortgage applications rose 1.6% over the previous week, helped by lower rates. The average loan size set a record for the 3rd week in a row, reaching $327,500.
A recent report shows that staging not only results in a quicker sale but also may increase a home's value. The most important room to stage? The living room.

 

"Pennies do not come from heaven. They have to be earned here on earth."
Margaret Thatcher

 

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 candiffer 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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