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Happy Thanksgiving {Market Report} November 26th

Happy Thanksgiving {Market Report} November 26th
November 26, 2018 abryant

 

 

I hope this Thanksgiving finds you just where you want to be, surrounded by those you love, eating scrumptious food, and enjoying your favorite activities (even if that means napping on the counch!).

Have a great one!

 

 

An onion can make people cry but there’s never been a vegetable that can make people laugh.

Hard Drive: The part of the computer that stops working when you spill coffee on it.

I never run with scissors. Those last two words were unnecessary.

 

Now The Market Report . . .

 

Concerns over turmoil in Britain and their Brexit deal caused investors to seek safe haven in bonds. This helped mortgage rates improve this week.

Stocks continued to suffer losses this week, as the S&P 500 and DJIA both saw 2018 gains erased. There’s some speculation the economy could be cooling.

Jobless claims rose to a 4-month high last week. However, the underlying trend remained consistent with a tightening labor market.

 

Home builder sentiment posted the biggest drop in 4-1/2 years in November. Rising rates, tight inventory and increased costs are concerning home builders.

Home building, however, rose in October, with a strong rebound in multi-family housing projects. Single-family home construction fell for a 2nd straight month.

Existing home sales rose slightly in October as well, snapping a 6-month streak of declines. The median house price rose 3.8% from a year ago, to $255,400.

 

What is the Thanksgiving Theory of Relativity?

The turkey gets stuffed. You get stuffed.

Relatively speaking, you’re better off.

 

This week’s potential market moving reports are:

 

Tuesday, November 27th:          Case-Shiller Home Price Index, Consumer Confidence

Wednesday, November 28th:    MBA Mortgage Applications, New Home Sales

Thursday, November 29th:        First Time Jobless Claims, Pending Home Sales

Friday, November 30th:             Chicago Purchasing Managers’ 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.