Weekly Mortgage Market Update for July 18, 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 July 18, 2019

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

 

Retail sales increased in June, pointing to strong consumer spending. This could offset the slowdown from the business sector.
Lower import prices in June are evidence of declining inflation. Low inflation helps prevent rising rates.
Jobless claims last week were up slightly. However, the overall labor market remains strong.

 

Housing starts fell for a 2nd straight month in June, and permits dropped to a 2-year low. Home builders grapple with labor shortages and high construction costs.
However, home builder confidence rose slightly in July, with lower rates contributing to affordability.
Real estate purchases by foreign buyers are declining. Causes are likely a slowdown in global economic growth coupled with low housing inventory.

 

"Thousands of candles can be lighted from a single candle, and the life of the candle will not be shortened. Happiness never decreases by being shared."
Buddha

 

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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