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Find out what restaurants say about the recovery! {Market Report} October 23

Find out what restaurants say about the recovery! {Market Report} October 23
October 23, 2020 abryant
Market Report - American Family Funding

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

 

My body is like a temple, ancient and crumbling.

Do I just call you? Or do we resolve this quickly with 77 text messages.

Who can relate: Checking for phone to find out what time it is, but then end up checking it again cause you weren’t paying attention the first time.

Autocorrect makes me say things I didn’t Nintendo.

I remember a time, long ago, when I could sneeze without injuring myself.

 


 

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Now The Market Report . . .

Talks continue for another pandemic stimulus package, although it is now questionable if a deal could be pushed into law before the November elections.
Pandemic aside, 6,500 new restaurants opened last month. That’s only 100 fewer new restaurant openings nationwide compared to a year earlier, a good sign for the recovery.
Jobless claims declined last week, falling for the third time in four weeks. Continuing claims fell to 8.37 million; however, more people were on extended benefits.
 
Single-family homebuilding surged in September, cementing the housing market’s status as the star of the economic recovery. Starts were up 8.5% over last month.
Homebuilder sentiment set another record high in October, despite challenges of shortages in labor, lots, and lumber, as buyer demand remains strong.
Existing home sales jumped 9.5% in September, but sales could be even more robust if more homes were available. Inventory fell 19.2% annually, a 2.7-month supply.
 
“If your ship doesn’t come in, swim out to it.”
Jonathan Winters

Next week’s potential market moving reports are:

Monday, October 26 – New Home Sales
Tuesday, October 27 – Case-Shiller Home Price Index, Consumer Confidence
Wednesday, October 28 – None Scheduled
Thursday, October 29 – First Time Jobless Claims, Pending Home Sales
Friday, October 30 – Consumer Spending

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.