Weekly Mortgage Market update for April 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
For the Week Ending April 4, 2019
 

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

 

Signaling a possible slowdown in the economy, retail sales dropped 0.2% in February. Slower economic activity is likely to keep the Fed from raising rates.
Rates bounced up off their recent lows this week. The market often moderates this way following a quick drop.
Talks with China for a new trade deal continue to progress. When a new deal is completed, it could help push stocks higher and boost consumer confidence.

 

New home sales rose to an 11-month high in February, suggesting lower mortgage rates were providing further lift to the housing market.
Construction spending also hit a 9-month high in February, increasing for the 3rd straight month. The strong gains are a good sign for the housing market.
According to NAR, 32% of homes sold in February were on the market for less than a month. The median existing-home price for February was $249,500.

 

"Don't let yesterday take up too much of today."
Will Rogers

 

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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