(661) 284-1150 | 28368 Constellation Road | # 398 | Santa Clarita, CA 91355

1-Story homes are going up! {Market Report} October 4th

1-Story homes are going up! {Market Report} October 4th
October 7, 2019 abryant

 

Market Report - American Family Funding

 

 

 

I follow a rigorous exercise routine that I never get lazy about; jogging to the fridge.

The hardest part of trying to take one sheep is stopping the rest of them from following.

When is the longer way always better than the shorter one? When you’re a taxi driver.

What if everything is an illusion and nothing exists? In that case, I definitely overpaid for my carpet.

 

Now The Market Report . . .

 

A recent string of disappointing economic data has caused stocks to plummet and bond yields to drop. When yields drop, mortgage rates generally improve.

The labor market, on track to add about 1.9 million jobs this year, could be faltering. It’s the smallest jobs gain since 2010 and down 2.7 million from 2018.

Markets are now pricing in an October Fed policy rate cut, the 3rd in as many months. This speculation is helping mortgage rates improve.

 

The housing market may be a bright spot in a worrisome economy. The forecast for home sales is good due to rising demand and a projected uptick in inventory.

Single-level homes are making a comeback. One-story homes comprised 47% of new home construction in 2018, up from 45% in 2017.

Fannie Mae and Freddie Mac will be allowed to keep more earnings, a total of $45 billion moving forward, as an initial step toward exiting government control.

 

“Happiness is not something ready made. It comes from your own actions.”

Dalai Lama

 

This week’s potential market moving reports are:

 

Monday, October 7th:            No Reports

Tuesday, October 8th:             Producer Price Index

Wednesday, October 9th:      MBA Mortgage Applications, Job Openings, FOMC Minutes

Thursday, October 10th:        First Time Jobless Claims, Consumer Price Index

Friday, October 11th:              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.