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Fred raises policy rates {Market Report} June 15th

Fred raises policy rates {Market Report} June 15th
June 18, 2018 abryant

Market Report - American Family Funding

 

I am not an early bird or a night owl. I am some form of permanently exhausted pigeon.

I hate it when I gain 10 pounds for a role and then realize I am not an actor.

Rabbits jump and they live for 8 years. Dogs run and they live for 15 years. Turtles do nothing and live for 150 years…Lesson learned.

 

Now The Market Report . . .

 

As expected, the Fed raised policy rates a quarter percent at this week’s meeting. The increase will likely have little impact on long-term mortgage rates.

The surprise came with the Fed’s statement that two more rate hikes are likely this year. That’s one more than initially projected.

Strong economic indicators support the rate changes. Jobless claims dropped 4K from last week, and last month’s retail sales were higher than anticipated.

 

Median priced homes are flying off the shelves, so to speak. A recent industry analysis pinpointed the median listed-to-sale time frame at 64 days, a post-recession low.

A recent Fannie Mae survey found sellers more positive than buyers. Price increases paired with rising rates are tempering buyer attitudes.

CoreLogic reports the average U.S. homeowner gained $16,300 in home equity over the last year. Increased equity gives owners more flexibility in selling and financing.

 

The soldiers were exhausted after an extended time in drills, largely due to one soldier’s consistent errors.  Finally, the drill sergeant said, “All right! All you idiots fall out!”

As the rest of the relieved squad wandered away, the mistake-prone soldier remained at attention. The drill instructor walked over, stood face-to-face, then raised a single eyebrow.

The soldier smiled and said, “Sure was a lot of ’em, huh, sir?”

 

This week’s potential market moving reports are:

 

Monday, June 18th:         Housing Market Index

Tuesday, June 19th:        Housing Starts

Wednesday, June 20th:   MBA Mortgage Applications, Existing Home Sales

Thursday, June 21st:       First Time Jobless Claims, FHFA House Price Index

Friday, June 22nd:           Baker-Hughes Rig count

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:

American Family Funding – Market Update March 19, 2021
American Family Funding – Market Update March 19, 2021

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

American Family Funding – Weekly Market Blog – March 01, 2021
American Family Funding – APM Cares – February 18, 2021