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Happy New Year! {Market Report} January 7th

Happy New Year! {Market Report} January 7th
January 7, 2019 abryant

 

 

 

As we greet the new year, many of us start thinking about changes we’ll make. If your plans include a move, a large expenditure or a resolution to use your money more wisely, please think about how your home equity can help. A cash-out refinance or home equity line of credit may allow you to meet your financial goals.

When you are ready to put your home to work for you, please let me know.

Wishing you happiness and success in the coming year!

 

Now The Market Report . . .

 

December’s private payroll saw its biggest monthly increase in nearly 2 years, suggesting sustained strength in the labor market despite ongoing financial market volatility.

Weak performance and volatility in stocks have driven investors to the safety of bonds. As yields fall, mortgage rates are likely to drop along with them.

A dip in consumer confidence shows households may be worried about the economy. If the economy slows, mortgage rates could benefit further.

 

Home prices are still rising, albeit at a slower pace than we’ve recently seen. Prices were up 5.1% nationally in November 2018 over November 2017.

Although higher mortgage rates have been blamed as a factor for a slowdown in rising home prices, recent rate drops could reverse that trend.

Home equity, currently nearing $15 trillion, has surpassed its prior 2006 “housing bubble” peak by over $1 trillion. This could help expand options for current homeowners.

 

“You will never find time for anything. If you want the time, you must make it.”

Charles Buxton  

 

This week’s potential market moving reports are: (Due to the government shutdown, there are fewer economic reports available)

 

Monday, January 7th:          Factory Orders, Manufacturing Index

Tuesday, January 8th:         Job Openings Report

Wednesday, January 9th:    FOMC Minutes

Thursday, January 10th:      First Time Jobless Claims

Friday, January 11th:             Consumer Price Index

 

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.