Weekly Mortgage Market Update for December 19, 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 19, 2019


30 Year Fixed Mortgage Rates
 

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

A phase one trade deal with China was announced late last week and is expected to be signed in January. Trade talk headlines have caused volatility in mortgage rates.
Manufacturing data this week points to increased orders, shipments and work hours for employees. Easing trade tensions likely support a turnaround in manufacturing.
Jobless claims dropped from a 2-year high last week, pointing to sustained labor market strength. Claims remain near the lowest levels in about a half century.
   
Housing starts increased more than expected in November, and permits for future construction hit a 12-1/2-year high. Housing starts jumped 13.6% year-over-year.
Despite inventory shortages in some areas and an unexpected dip in November, existing home sales still rose 2.7% from a year ago.
Seniors who own a home saw housing wealth grow by 0.3% in the 3rd qtr, equating to $24 billion. The increase brought senior housing wealth to a record high of $7.19 trillion.
   

"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus."
Alexander Graham Bell


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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