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Mortgage apps jump! {Market Report} June 17th

Mortgage apps jump! {Market Report} June 17th
June 17, 2019 abryant

 

Stop by our open house and check out the awesome executive suites! If you want it all in one place . . . we got it! Thursday, June 20th, 12- 2 pm, 28368 Constellation Road, Suite 360. Lunch, raffles, & more!

www.360ExecutiveSuitesSCV.com or Link Here- http://bit.ly/2F6rI9A

 

Let’s Talk & Toast! Please join us Thursday, June 20th, 5:30 – 7:00 pm at Lucille’s!

 

 

The worst part of online shopping is having to get up and get your card out of your wallet.

My biggest fear about becoming a zombie is all the walking that I’d have to do.

I may not have lost all my marbles yet, but there’s a small hole in the bag somewhere.

Sleeping is hard in the summer because the blankets are too warm, but without them I am vulnerable to monsters.

The older I get, the less surprised I’d be if a random body part just fell off one day.

 

Now The Market Report . . .

 

Both wholesale and consumer inflation data came in as expected this week, showing inflation is not a concern to pressure rates higher in the near future.

The Fed meets next week for its FOMC meeting. No rate changes are expected, but investors will be looking for signs of rate cuts to come in July.

The labor market appears to be losing steam. Last week’s jobs data came in weaker than expected, and jobless claims also rose unexpectedly last week.

 

Mortgage applications surged last week as rates dropped. Applications were up 26.8% in just one week, and volume was 41% higher year-over-year.

Refinances led the application surge, jumping a remarkable 47% week-to-week. Purchase applications increased 10% weekly and annually.

Due to tax reforms, renters paid an average of $2,716 less in taxes last year, making it easier to save toward a possible down payment on a home.

 

“We may encounter many defeats, but we must not be defeated.”


Maya Angelou

 

This week’s potential market moving reports are:

 

Monday, June 17th:          National Association of Home Builders Index

Tuesday, June 18th:         Housing Starts

Wednesday, June 19th:    MBA Mortgage Applications, FOMC Interest Rate Announcement

Thursday, June 20th:        First Time Jobless Claims

Friday, June 21st:             Existing Home Sales

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.