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Happy Easter! {Market Report} April 2nd

Happy Easter! {Market Report} April 2nd
April 2, 2018 abryant

We’re bringing the egg hunt to you this year!

I hope you and yours have a wonderful Easter. Happy hunting!

 

Why the english language is difficult to learn: The bandage was wound around the wound.

I’m not afraid of heights…I can look up at a mountain all day. Its depths that disturb me !!

If you want breakfast in bed, sleep in the kitchen.

I asked my parents what’s it like to have such an awesome kid. They told me to ask my grandparents.

 

Now The Market Report . . .

 

Although a short week for markets, there was lots of economic data to digest. The week overall was positive for rates, helping to rebound from recent highs.

Consumer spending rose marginally for the 2nd straight month in February. The PCE data suggests a moderation in inflation after prices pushed higher in Jan.

The labor market appears to be near full strength as jobless claims came in lower than expected. This is the 95th straight week claims were below 300,000.

 

New home sales were down in February but are trending up. Although down month-over-month, February’s numbers were 0.5% higher than a year ago.

Rates have stabilized, and loan applications increased 4.8% last week. Purchase apps increased 3.1% week-over-week and were 8.2% higher than a year ago.

Pending home sales were up 3.1% in February, although down slightly from last year. Demand remains strong, but inventory levels continue to be an issue.

 

Can February March? No, but April May!

 

This week’s potential market moving reports are:

 

Monday, April 2nd:         ISM Manufacturing Index, Construction Spending

Wednesday, April 3rd:    MBA Mortgage Applications, ADP Employment Report, Factory Orders

Thursday, April 4th:        First Time Jobless Claims

Friday, April 5th:             National Employment Situation

Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly mortgage advisor will make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.