Demand is high, but inventory remains low {Market Report} July 30th

I’ve reached the age where Happy Hour is a nap.

The easiest way to find something lost around the house is to buy a replacement.

I would imagine that if you could understand Morse code, a tap dancer would drive you crazy.

I’m trying to read a book on how to relax, but I keep falling asleep.

Now The Market Report . . .

Talk of tariffs and trade concerns continue to help keep mortgage rates low. However, the strong economy and labor market could pressure rates higher.

Recent comments by President Trump about raising rates are not likely to affect the Fed’s plans. One or even two policy rate increases are still expected for 2018.

The European Central Bank is seeing inflation increase overseas and should end economic stimulus this year. This could pressure future mortgage rates higher.

Existing home sales continued to slide in June, to a 5-month low. A persistent shortage of properties on the market drove house prices to a record high.

New home sales also dropped to an 8-month low in June. Demand remains high, but builders are struggling with labor shortages and material costs.

Fifteen more states can now accommodate fully digital home closings. A total of 265 million homebuyers can now enjoy fully online closing processes across the country.

I have a few jokes about being unemployed, but it doesn’t matter because none of them work.

This week’s potential market moving reports are:

Monday July 30th:              Pending Home Sales

Tuesday July 31st:               Case-Shiller Home Price Index

Wednesday August 1st:      ADP Employment Report, Construction Spending

Thursday August 2nd:        First Time Jobless Claims, Factory Orders

Friday August 3rd:              National Unemployment Rate

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