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Fresh News for 2018 {Market Update} January 8th

Fresh News for 2018 {Market Update} January 8th
January 8, 2018 abryant

Market Report - American Family Funding

 

I wish the dollar store sold gas.

If you’re watching a parade, and it gets boring, run in the opposite direction, you will fast- forward the parade.

A man came to the door and asked if I would donate to the local swimming pool. So I have him a glass of water.

Did you ever notice that when you put the words “The” and “IRS” together, it spells “THEIRS?”

 

 

Now The Market Update . . .

 

Tax reform passed for 2018 is expected to spur more economic growth. A stronger economy could pressure mortgage rates higher through 2018.

The minutes from the Fed’s last meeting showed concerns over sluggish inflation. The lack of inflation has helped to keep mortgage rates low in the past.

The labor market continues to show strength. The private sector added 250,000 jobs in December, the biggest increase since March.

 

Home prices continue to soar. CoreLogic reports for November 2017 show that home prices were up year-over-year by 7%, the 4th consecutive month of growth.

The Federal Housing Finance Agency is considering the VantageScore model instead of FICO for mortgage lending. This could result in more qualified buyers.

The final tax reform plan changed the mortgage deduction on new loans from a cap of $1 million to $750,000, with an additional $100,000 for home equity loans.

 

My New Year’s resolution is to help all my friends gain ten pounds so I look skinnier.

 

This week’s potential market moving reports are:

Monday, January 8th:            Consumer Credit

Tuesday, January 9th:            Job Openings and Labor Turnover Report

Wednesday, January 10th:    MBA Mortgage Applications

Thursday, January 11th:         First Time Jobless Claims, Producer Price Index

Friday, January 12th:              Consumer Price Index, Retail Sales