In case you haven’t heard . . .
Ever stopped to think and forgot to start again?
What happens if you get scared half to death twice?
The trouble with life is that there’s no background music.
You are what you eat. Avoid fruitcake.
Now The Market Report . . .
Recent comments by Fed Chair Jerome Powell have markets questioning if we’ll see policy rate increases in 2019, which could be good for mortgage rates.
Consumer spending increased by the most in 7 months in October. But underlying price pressures slowed, meaning inflation is less of a concern.
The economy grew 3.5% in the 3rd quarter, lower than the 2nd quarter’s 4.2% expansion. Still, corporate profits reached a 6-year high.
Despite moderation, September’s annual home price gains remain strong at 5.5%, as reported by Case-Shiller.
October’s pending home sales dropped 2.6% from the previous month. Sales were down 6.7% compared with October 2017, for the 10th month of annual declines.
New home sales also fell in October. However, data last week showed an increase in building activity. A larger supply of available homes could bring more sales.
“Get your facts first, then you can distort them as you please.”
– Mark Twain
This week’s potential market moving reports are:
Monday, December 3rd: ISM Manufacturing Index, Construction Spending
Tuesday, December 4th: Motor Vehicle Sales
Wednesday, December 5th: MBA Mortgage Applications, ADP Employment Report
Thursday, December 6th: First Time Jobless Claims, Factory Orders
Friday, December 7th: National Unemployment, Non-Farm Payroll Report
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.
American Family Funding Recent Articles:
Weekly Expert Update {Market Report} – February 14, 2022
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