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Bad Credit, Good Credit {Market Update} August 28th

Bad Credit, Good Credit {Market Update} August 28th
August 28, 2017 abryant

Don’t follow my footsteps, I run into walls!

Inside me is a skinny person screaming to get out. But he shuts up when I eat cake.

If the grass is greener on the other side, you can bet the water bill is higher.

If at first you don’t succeed, then skydiving is not for you.

Why is there no egg in eggplant and no ham in hamburger?

 

 

 

American Family Funding home loan officer Patti Handy shares the top three mistakes people make when trying to repair a bad credit score.

Read the full article here: Repairing Bad Credit: The 3 Biggest Mistakes You Can Make

 

And Now The Market Update . . .

Central bankers from around the world are meeting this week for the Jackson Hole Symposium. Markets will be looking for signs of imminent policy changes.

Very little economic news this week along with low trading volume has left markets quiet. This environment has helped to keep mortgage rates stable.

Despite labor market strength, low inflation remains a concern. Speculation is the Fed cannot raise rates again this year unless inflation rises to around 2%.

 

New home sales were unexpectedly lower for July, down 9.4% from June. July’s sales were a 7-month low and caused some concerns about the housing market.

However, before anyone panics, it should be noted that May and June numbers were revised higher. Median new home prices were up 6.3% over last year.

Inventory of new homes rose 1.5% last month, the highest level since June 2009. Even still, a shortage of new and existing home inventory remains an issue.

 

Heard at the end of a recent flight: “Please be sure to take all of your belongings. If you do leave anything, please be sure it’s something we’d like to have.”

 

This week’s potential market moving reports are:

Monday, August 28th:         Dallas Fed Manufacturing Survey

Tuesday, August 29th:        S&P Corelogic Case-Shiller HPI, Consumer Confidence

Wednesday, August 30th:   MBA Mortgage Applications, ADP Employment Report

Thursday, August 31st:       First Time Jobless Claims, Pending Home Sales

Friday, September 1st:        National Employment, Construction Spending, ISM Mfg Index