(661) 284-1150 | 28368 Constellation Road | # 398 | Santa Clarita, CA 91355

Happy Holidays! {Market Report} December 24th

Happy Holidays! {Market Report} December 24th
December 26, 2018 abryant

 

 

I hope you’re enjoying the busy holiday season.

 Best wishes to you and your family, now and always!

 

 

A man came to the door and asked if I would donate to the local swimming pool. So I have him a glass of water.

Actions speak louder than text messages.

My body is a temple where junk food goes to worship.

Dear Diet, things just aren’t going to work out between us. It’s not me it’s you. You are tasteless and boring and I can’t stop cheating on you.

My password is ********* How many asterisks do you use for your password?

 

Now The Market Report . . .

 

The Fed raised policy rates this week, but lowered the number of expected rate increases for 2019. Mortgage rates were basically unaffected by this rate hike.

Stocks have been routed and fears over a slowing economy have taken over. As investors seek safety in bonds, this has helped mortgage rates improve.

The labor market remains strong though, as jobless claims were only up slightly from the previous week’s near 49-year low. Claims were at 214,000 for last week.

 

Home builder confidence was down slightly in December from November. But indications are still that more builders view sales conditions as good than poor.

New home starts rebounded in November, driven by a surge in multi-family housing. However, single-family housing starts were down to a 1-1/2 year low.

Existing home sales rose unexpectedly in November. Although sales are down 2.3% in the first 11 months over last year, they’ve increased for 2 months in a row.

 

 

“Life is 10% what happens to you and 90% how you react to it.”

Charles R. Swindoll

 

This week’s potential market moving reports are:

 

Monday, December 24th:            Christmas Eve – No Major Economic Reports

Tuesday, December 25th:            Christmas Day – All Markets Closed

Wednesday, December 26th:      Case-Shiller Home Prices

Thursday, December 27th:          First Time Jobless Claims, New Home Sales

Friday, December 28th:               Pending 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.