Weekly Mortgage Market Update for June 20, 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 June 20, 2019

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

 

The Fed kept policy rates unchanged at this week's FOMC meeting. However, the policy statement left the door open for possible rate cuts later this year.
The 10yr Treasury yield dropped below 2% this week for the first time since November 2016. Falling yields could indicate that lower rates are yet to come.
Bonds aren't the only ones improving. Stocks are also hitting record highs after global central banks have signaled a willingness to stimulate growth.

 

Home builder sentiment retreated slightly in June, according to the monthly NAHB index, despite lower mortgage rates and demand for single-family homes.
Housing starts dropped in May, but groundbreaking activity the prior 2 months was stronger than previously thought, pointing to housing market improvement.
Building permits rose 0.3% in May, for a second straight month. Permits to build single-family homes were up 3.7%, after 5 straight months of declines.

 

"Today I choose life. Every morning when I wake up I can choose joy, happiness, negativity, pain... To feel the freedom that comes from being able to continue to make mistakes and choices - today I choose to feel life, not deny my humanity but embrace it."
Kevyn Aucoin

 

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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