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Consumer prices increased in December, but underlying inflation remained tame. Low inflation is good because rising inflation can pressure mortgage rates higher. |
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President-elect Joe Biden released his plans for more fiscal stimulus when he takes office. The added stimulus is expected to help the economy but could pressure mortgage rates higher. |
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Jobless claims surged last week, confirming a weakening in the labor market as virus counts rise and the pandemic disrupts operations at restaurants and other businesses. |
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After setting more than a dozen record lows last year, rates started 2021 on an upward climb. Refinance applications rose 20% last week as borrowers tried to beat further increases. |
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Only 16% of respondents to Fannie Mae’s December National Housing Survey feel that housing prices will fall in 2021. More than 50% felt it was a good time to buy or sell a home. |
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According to a Wall Street Journal report, builders are building tens of thousands of homes to be used as rentals, believing rentals will stay in high demand as prices continue to rise. |
Cowboys ride horses. Shouldn’t they be called horseboys???
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| “With ordinary talent and extraordinary perseverance, all things are attainable.” Thomas Fowell Buxton
Next week’s potential market moving reports are:
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American Family Funding Recent Articles:
Weekly Expert Update {Market Report} – February 14, 2022
Quick takeaways: Three ways to ensure a positive experience for first-time homebuyers. Google is making privacy changes to its Chrome…