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Home sales are breaking records! {Market Report} September 25th

Home sales are breaking records! {Market Report} September 25th
September 25, 2020 abryant


Market Report - American Family Funding


Sometimes I wonder what happened to the people who asked me for directions.

I love getting cute little morning texts like “Your order has been shipped.”

Playing dress-up begins at age five and never truly ends.

If you were wondering about my culinary skills…I’ve been asked to bring paper towels to our family gatherings.

I keep a potato masher in the kitchen drawer because sometimes it’s fun to watch someone try to open it.





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Now The Market Report . . .


In testimony to Congress this week Fed Chair Jerome Powell said the central bank is committed to helping the economy recover, which should help keep mortgage rates low.
Metrics show consumers pulling back on spending, even as businesses reopen. The decline in consumer spending could be a result of the recent end of stimulus money.
Jobless claims were up slightly this week to 870,000, supporting views that economic recovery could be running out of steam as the labor market struggles to improve.
According to the FHFA, July’s home prices came in 6.55% higher than the previous year. The increase was the biggest annual gain since June 2018 and followed a 5.8% increase in June.
Existing home sales jumped to a 14-year high in August and were 10.5% higher than the previous year. This is the highest sales pace since December 2006.
New home sales also increased for the 4th straight month in August, to the highest level in almost 14 years, as record-low mortgage rates continue to entice buyers.
“Don’t judge each day by the harvest you reap but by the seeds that you plant.”
Robert Louis Stevenson


Next week’s potential market moving reports are:


Monday, September 28th – None Scheduled
Tuesday, September 29th – Case-Shiller Home Price Index
Wednesday, September 30th – ADP Employment Report, Pending Home Sales
Thursday, October 1st – First Time Jobless Claims, Construction Spending
Friday, October 2nd – National Employment, Factory 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.

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