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Weekly Mortgage Market Update for November 21, 2019

By Brian Skaar

Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035

November 21, 2019 11:48 AM

For the Week Ending November 21, 2019

30 YEAR FIXED MORTGAGE RATES

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

	Trade talks with China are still moving markets. Investors worry the 'phase one' deal is taking too long, but China's chief negotiator Vice Premier Liu He says he is "cautiously optimistic."
	October Fed meeting minutes show Fed officials felt risks to the economy remained elevated, even as they agreed to hold off on further rate cuts.
	Unemployment applications last week unexpectedly remained at 227,000. The Fed minutes showed officials viewed labor market conditions as strong despite a slowdown in job growth.


	Housing starts were up in October, with single-family construction rising for a 5th straight month. Home construction permits jumped to more than a 12-year high.
	Homebuilders remain confident in the housing market, spurred in part by low mortgage rates. This is the 4th month at least half of surveyed builders reported positive buyer traffic.
	October's existing home sales increased 1.9%, beyond expectations. Tight supply combined with low rates to boost home prices, which grew at the fastest pace in more than 2 years.

"Never put off until tomorrow what you can do the day after tomorrow."
Mark Twain

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.