Happy Thanksgiving - Market Report - November 20, 2017 — American Family Funding - Home Loans | Mortgage

Happy Thanksgiving – Market Report – November 20, 2017

November 20, 2017 abryant

Chocolate is the answer, who cares what the question is.

Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?

I’m a pretty clever guy. For example, my username and password are always the same, just in case I forget either.

Procrastination, I’ll think of something witty to say about it later.

Why do people try to park as close as they can to the entrance when they go to the gym to work out?

Check out the October issue of Los Angeles Magazine on LA real estate. It’s all about affordable hoods, trade secrets, historic homes and more. Your guide to the gold mine!

http://www.lamag.com/issue/october-2017/

Now The Market Update . . .

The Producer Price Index, which measures wholesale inflation, rose 0.4% in October. Core PPI was also up, supporting a Fed rate increase next month.

Retail sales were also improved in October, coming in stronger than expected. The increase of 0.2% signals a growing economy and could pressure rates.

Tax reform continues to make progress in both chambers of Congress. Once passed, the reform is expected to spur further economic growth.

Home builder confidence hit an 8-month high in November, despite increased costs and labor shortages. Buyer demand remains high on reduced inventory.

National mortgage delinquency rates continue to fall, down 0.6% year-over-year in August. Foreclosure inventory was also down 0.3% year-over-year.

The House passed legislation to extend the National Flood Insurance Program for 5 years. However, the Senate still must approve the bill for it to take effect.