Weekly Mortgage Market update for May 9, 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 May 9, 2019

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

 

Tweets by President Trump reignited investor concerns over the trade talks with China. Stocks dropped from recent highs as investors' anxiety increased.
Although the trade dispute with China has not directly helped mortgage rates, newly proposed tariffs could hamper global economic growth, helping rates.
Low inflation has offset strong employment, helping keep rates low. Although lots of jobs are being created, wages aren't rising fast enough to cause inflation.

 

A remodeling labor shortage continues to delay housing projects, according to NAHB. The highest demand is for carpenters, bricklayers, and electricians.
Homeowners are showing more love for their front yards in a recent trend, carving out spots in lawns and front porches to mingle with neighbors and relax.
High home prices and strong demand have today's youngest homebuyers pouring into smaller cities, where prices are generally more affordable.

 

"From what we get, we can make a living; what we give, however, makes a life."
Arthur Ashe

 

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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