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Inventory is finally up! {Market Report} July 16th

Inventory is finally up! {Market Report} July 16th
July 17, 2018 abryant

Market Report - American Family Funding

 

 

I yell “stay” at objects that keep falling over.

What do people do with all the extra time they save by writing “K” instead of “OK”?

I hate it when I’m singing a song and the artist gets the word wrong.

So it turns out that being an Adult is mostly just Googling how to do stuff.

 

Now The Market Report . . .

 

Consumer prices barely rose in June, but the underlying trend points to inflation. Rising inflation will likely lead to more Fed rate increases and higher rates.

Producer prices rose more than expected in June, another factor pointing to inflation. This jump was the largest annual increase in 6-1/2 years.

Although trade war concerns have escalated, there’s not a lot of fear that this will hurt the economy. In the meantime, mortgage rates have remained stable.

 

Homeowners have an estimated $5.8 trillion in accessible equity, the highest ever recorded. Despite this, fewer owners are taking cash out than in previous eras.

Inventory remains tight, but could loosen up a bit in the near future. Inventory increased 12.2% in the 2nd quarter, the biggest gain since early 2015.

Although refinance applications were down last week, purchase applications rose 7% for the week and were 8% higher than the same week a year ago

 

What does Jason Vorhees have for dessert on Friday the 13th?

I-Scream.

 

This week’s potential market moving reports are:

 

Monday July 16th:          Retail Sales

Tuesday July 17th:          Home Builders Index, Industrial Production

Wednesday July 18th:     Housing Starts

Thursday July 19th:         First Time Jobless Claims

Friday July 20th:              No Scheduled Reports

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.

American Family Funding Recent Articles:

American Family Funding – Market Update March 19, 2021
American Family Funding – Market Update March 19, 2021

Please enjoy this quick update on what happened this week in the housing and financial markets.     Asking for…

American Family Funding – Weekly Market Blog – March 01, 2021
American Family Funding – APM Cares – February 18, 2021