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Weekly Mortgage Market Update for December 26, 2019

By Brian Skaar

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

December 26, 2019 02:25 PM

For the Week Ending December 26, 2019

30 YEAR FIXED MORTGAGE RATES

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

	Orders for durable goods (products designed to last at least 3 years) fell 2% in November from October. This is the biggest month-over-month decline since May.
	Stock indexes ticked higher in holiday-thinned trading as investors looked ahead to a promised trade breakthrough between the world’s biggest economies in January.
	Jobless claims fell last week in a sign of ongoing labor market strength. Claims have been volatile in recent weeks around the holiday season and end of the year.


	New home sales rebounded in November, suggesting low mortgage rates continued to support the housing market. Sales activity in the prior month was weaker than reported.
	According to the credit reporting agency Experian, the average American credit score surged to an 8-year high of 682 in 2019, hitting its highest level since 2011.
	Housing affordability fell slightly in October compared to September, but affordability conditions improved year-over-year. The overall median sales price was $273,600.

"Change is not a four letter word... but often your reaction to it is!"
Jeffrey Gitomer

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.