Weekly Mortgage Market Update for April 25, 2019

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 April 25, 2019

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

 

Stocks continue to hit record highs, helped by strong corporate earnings. Money moving from bonds back into stocks can continue to pressure rates higher.
New orders for U.S.-made capital goods increased by the most in 8 months in March, but a drop in shipments suggested business spending slowed.
Weekly jobless claims recorded the biggest increase in 19 months last week. The overall trend in claims, however, remains consistent with a strong labor market.

 

New home sales hit a 1-1/2-yr high in March, boosted by home prices and lower mortgage rates. It was the 3rd straight monthly increase for new home sales.
However, existing home sales, which make up about 90% of sales, aren't doing as well. Sales fell 4.9% in March.
After seeing mortgage rates increase slightly, mortgage application volume was down last week 7.3%. However, that's still 6.6% higher than a year ago.

 

"Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible."
Francis of Assisi

 

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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