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Memorial Day Greetings! {Market Report} May 27th

Memorial Day Greetings! {Market Report} May 27th
May 27, 2019 abryant

Market Report - American Family Funding

 

As we celebrate the unofficial start of summer this weekend, I hope we’ll also take time to pause in remembrance of those who sacrificed for our freedoms.

Wishing you a safe and meaningful celebration!

 

 

I wonder if in 2050 there will be a movie called, ‘Dude, Where’s My Spaceship.’The first time I see a jogger smiling, I’ll consider it.

That moment you turn down the music while driving around looking for a street address, so you can see better.

Yesterday I wore something from 5 years ago and it actually fit. So proud of myself. It was a hat, but still, let’s be positive here.

Does refusing to go to the gym count as resistance training?

I try to contain my craziness, but the lid keeps popping off.

 

Now The Market Report . . .

 

Last month’s Fed meeting minutes show officials are in no hurry to move interest rates up or down, though investors are looking for a rate cut by year’s end.

Recent escalation in the trade war with China has helped keep rates low and could cause more slowdown in the global economy, also helpful for low rates.

Consumers seem bullish on the economy, as sentiment reached a 15-year high. However, the reading was taken before recent trade tensions with China.

 

Existing home sales fell in April, likely due to high prices and tight supply at the low end of the market. Recent rate drops should counter high prices moving forward.

New single-family home size increased roughly 8% at the start of 2019, now an average of 2,551 square feet. Median home size also increased 11% to 2,335.

More baby boomers are choosing to age in place, contributing to low inventory across the country. Almost 52% of boomers say they’ll never move.

 

“There’s nothing I know for sure because I know for sure that things change.”

 Ellen DeGeneres

 

This week’s potential market moving reports are:

 

Monday, May 27th:           Memorial Day – All Markets Closed

Tuesday, May 28th:          Case-Shiller Home Price Index

Wednesday, May 29th:     MBA Mortgage Applications

Thursday, May 30th:         First Time Jobless Claims, Pending Home Sales

Friday, May 31st:              Consumer Spending, Consumer Sentiment

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.