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Free Companion Pass on SouthWest & Homes Continue To Go Up – Market Update – October 23, 2017

Free Companion Pass on SouthWest & Homes Continue To Go Up – Market Update – October 23, 2017
October 23, 2017 abryant

Market Report - American Family Funding

I will procrastinate later.

I haven’t lost it. I just misplaced it…somewhere on this planet.

I will not be impressed with technology until I can download food from the internet.

I don’t believe in superstition because it brings bad luck!

Get Well Soon! Why Get Well Soon? Why Not Get Well Now?

Now The Market Update . . .

Recently released economic data shows the economy is growing, but inflation is still not a problem. Rising inflation pressures mortgage rates to move higher.

The Fed is expected to leave policy rates unchanged at this month’s meeting but raise them at December’s meeting, despite lack of inflation.

Unemployment benefit claims fell to a 44-year low last week. This points to a rebound in job growth after a hurricane-related decline in September.

Builder confidence in the housing market rose to a 5-month high in October. However, builders still face increased material costs and labor shortages.

Housing starts were at a 1-year low in September, due to hurricanes disrupting construction. The storms are also blamed for a decline in building permits.

Housing market fundamentals, however, remain solid. Mortgage applications for home purchases were up 4% week-over-week, despite the holiday week.

In a nice turnaround, home builders are once again very bullish on the housing market.

In the latest data, which is released by The National Association of Home Builders from their member survey, the index jumped four points all the way back up to 68.

The strength in the index is optimism of future sales along with continuing growth of current sales.

Traffic continues to be lower than builders would like, however the only component that seems to be missing is first time buyers.

Existing home owners and previous owners make up the bulk of the traffic and purchases of new construction.

SouthWest Companion Pass!

I want to share this great travel deal in case you travel a lot like me! Southwest Airlines just released a deal that allows California residents to get the Companion Pass by signing up for just one credit card and making one purchase.  This typically requires 100 flights or 110k points in a calendar year, so it’s a helluva deal!

Basically, you can designate a companion and any flight you take on SW, that companion can fly with you for free through the end of next year (and just pay taxes which are ~$5 each way on most domestic flights).  If you have children, your spouse/significant other can do this as well to get an additional companion pass.

This is one of the best deals I have ever seen, so if you have any travel planned next year it is worth considering…

https://thepointsguy.com/2017/10/cali-residents-companion-pass-now-through-december-31-2019/


My first job was being a diesel fitter at a pantyhose factory. As they came off the line, I would hold them up and say, “Yeah, deez-el fit her.”

 

This week’s potential market moving reports are:

Wednesday, October 25th: MBA Mortgage Applications, FHFA HPI, New Home Sales

Thursday, October 26th: First Time Jobless Claims, Pending Home Sales

Friday, October 27th: GDP