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Lots of indicators show improvement! { Market Report} October 2nd

Lots of indicators show improvement! { Market Report} October 2nd
October 2, 2020 abryant

The bright side to having kids is that if I’m ever trapped in my car I have 2 years worth of raisins and crackers to live on.

The human body is made up of 60% water, that means I’m not fat…I’m flooded.

It seems like everyone loves to text you when you are busy but when you’re bored…nothing.

To my Children: Never make fun of having to help me with computer stuff…I taught you how to walk!!!

When downloading anything, why does it take 5 seconds to get to 98% and then 10 minutes for the last 2%?





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Now The Market Report . . .

Consumer confidence rebounded in September by the most in 17 years, reaching a 3-month high, as Americans grew more upbeat about the outlook for the economy and job market.
The GDP fell at a rate of 31.4% in the 2nd quarter, due to the pandemic. However, the economy is poised to swing to a record increase in the quarter that just ended.
Jobless claims dropped more than expected to 837,000, as the slow labor market recovery grinds on. Continuing claims fell to 11.8 million in the week ended Sept. 19.
According to CoreLogic, home prices rose 4.8% annually in July. Rock-bottom mortgage rates and strong buyer demand are fueling price increases.
Pending home sales were up in August, 8.8% higher than July and a staggering 24.2% higher than August 2019. Sales matched a record pace set back in Jan. 2001.
The COVID-19 pandemic has hit the office sector hard, as employees work from home and vacancies skyrocket. However, Cushman & Wakefield are forecasting a full recovery by 2025.
“A champion is afraid of losing. Everyone else is afraid of winning.”
Billie Jean King

Next week’s potential market moving reports are:

Monday, October 5th – None Scheduled
Tuesday, October 6th – Job Openings
Wednesday, October 7th – FOMC Minutes
Thursday, October 8th – First Time Jobless Claims
Friday, October 9th – Wholesale Inventories

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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