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Lowest jobless claims in 45 years {Market Report} February 26th

Lowest jobless claims in 45 years {Market Report} February 26th
February 26, 2018 abryant

Market Report - American Family Funding

When life gives you lemons, sell them and buy the fruit you like.

Is the glass half empty or half full? Neither, it’s just the wrong size!

If I melt dry ice and I swam in it, I wouldn’t get wet?


Now The Market Report . . .

Minutes from the Fed’s last FOMC meeting point to more policy rate hikes ahead. Officials have seen an increase in economic growth and an uptick in inflation.

The Fed doesn’t control mortgage rates, yet rates are influenced by the Fed’s actions. As the Fed raises policy rates this year, mortgage rates will likely follow.

Jobless claims hit a near 45-year low last week, pointing to strong job growth in February. A strong labor market supports the growing economy.


Existing home sales fell unexpectedly in January, possibly due to tight inventory and rising mortgage rates. Home supply has declined for 32 straight months.

New housing starts were up though, to a 1-yr high of 1.326 million in January. Building permits soared to their highest level since 2007.

While builders are busy creating new homes, condos are lacking. Condos are 7% of the multifamily market (down from an average of 22% from 1985-2003).


Q: What starts with E, ends with E, and has only 1 letter in it?
A: Envelope


This week’s potential market moving reports are:

Monday, February 26th:           New Home Sales

Tuesday, February 27th:          Durable Goods Orders, Case-Shiller HPI, FHFA HPI

Wednesday, February 28th:    MBA Applications, GDP

Thursday, March 1st:                 First Time Jobless Claims, Construction Spending

Friday, March 2nd:                     Consumer Sentiment



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.