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Home builder optimism grows! {Market Report} May 20th

Home builder optimism grows! {Market Report} May 20th
May 20, 2019 abryant

 

 

 

 

“Let’s Talk & Toast” this Thursday, May 23rd, 5:30 – 7:00 pm at Lucille’s!  Please stop by and say Hi!

 

Before you marry a person, you should first make them use a computer with slow internet service to see who they really are.

Sleep is so cute when it tries to compete with the internet.

I am thankful for laughter, except when milk comes out of my nose.

The word abbreviation sure is long for what it means.

 

Now The Market Report . . .

 

Trade tensions with China increased this week, causing stocks to fall and bonds to improve. The shift in bond prices helped move mortgage rates down slightly.

After a big jump in March, retail sales declined 0.2% in April as consumers cut back spending on clothes, appliances, and home & garden supplies.

Jobless claims fell more than expected last week, pointing to sustained labor market strength that should help underpin the economy if growth slows.

 

According to the NAHB monthly index, builder confidence for newly built single-family homes rose in May. It was the highest reading since October 2018.

Housing starts increased more than expected in April. Data suggests declining mortgage rates are providing further support to the housing market.

Home building’s future is also looking good, with building permits rising 0.6% in April. Permits had been in decline for the previous 3 months.

 

“A lot of people do not recognize opportunity because it usually goes around wearing overalls looking like hard work.”

Thomas A. Edison

This week’s potential market moving reports are:

 

Monday, May 20th:           Chicago Fed National Activity Index

Tuesday, May 21st:          Existing Home Sales

Wednesday, May 22nd:    MBA Mortgage Applications, FOMC Minutes

Thursday, May 23rd:         First Time Jobless Claims

Friday, May 24th:              Durable Goods Orders

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.