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Trike Derby and {Market Report} October 1st

Trike Derby and {Market Report} October 1st
October 1, 2018 abryant

Market Report - American Family Funding

 

The 2nd Annual Trike Derby is this weekend!  Come cheer on American Family Funding and enjoy the drinks and entertainment!  It will be a great time!

 

I would go out of my mind, but I can’t find the exit.

A picture is worth a thousand words, but only if you know that many.

Pushing forward can get you almost anywhere, except through a door marked ‘pull’.

After exercising I always eat a pizza…Just kidding I never exercise.

 

Now The Market Report . . .

 

The Fed met this week and raised policy rates 0.25%. This rate increase did not cause mortgage rates to rise though, as they are not tied directly together.

The Fed is expected to hike policy rates again in December and 3 more times in 2019. Strong employment and increasing inflation would support these hikes.

Unemployment filings were up last week, mainly due to states hit by Hurricane Florence. However, the national figure remains near a five decade low.

 

Home prices are still rising, albeit at a slower pace. Case-Shiller shows prices rose 6% annually in July, down from 6.2% in June.

Pending home sales were down slightly in August for the 4th month. Tight inventory, rising rates and increased prices are being blamed for hampering sales.

New home sales rebounded in August after 2 months of declines. However, rising borrowing costs and increasing home prices could temper further improvement.

 

What happens when business is slow at the medicine factory?

You can hear a cough drop.

This week’s potential market moving reports are:

 

Monday, October 1st:            ISM Manufacturing Index, Construction Spending

Tuesday, October 2nd:          Motor Vehicle Sales

Wednesday, October 3rd:     ADP Employment Report

Thursday, October 4th:         Factory Orders, First Time Jobless Claims

Friday, October 5th:               National Unemployment Rate

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.