Weekly Mortgage Market Update for December 12, 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 December 12, 2019


30 YEAR FIXED MORTGAGE RATES
 

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 and also signaled that rates are unlikely to change in 2020 with moderate economic growth.
Consumer prices increased more than expected in November, mainly due to higher gas costs. Price increases drive inflation, which pressures mortgage rates higher.
Stocks continue to hit record highs as a phase one trade deal with China seems to be moving closer to completion. If not postponed, more tariffs take effect Dec 15th.
   
Builders continue to move away from basements. A recent survey shows 60% of new single family homes in 2018 were built on slab foundations and 14% with a crawl space.
Sustainable features are the latest trend to attract buyers. Favorites include low-flow toilets and showerheads; multipane windows; and electric charging stations.
First-time buyers are on the rise, up from a year ago. FTBs comprised 39% of all single family home buyers and 55% of purchase mortgages in the 3rd quarter.
   

"Winter, a lingering season, is a time to gather golden moments, embark upon a sentimental journey, and enjoy every idle hour."
John Boswell




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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