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Purchase applications were up! {Market Report} September 17th

Purchase applications were up! {Market Report} September 17th
September 17, 2018 abryant

 

 

 

I’m sorry officer, but I can’t stop speeding… The earth is spinning way over the speed limit in this zone.

Two mysterious people live in my house. “Somebody” and “Nobody.” Somebody did it and nobody knows who.

The only way to know if the glass is half empty or half full is to measure it really accurately, like with a laser.

 

Now The Market Report . . .

 

Trade tensions with China continue to help keep mortgage rates low. Although more talks are expected, new tariffs could be imposed any time.

Overseas central banks kept rates unchanged this week. Since many overseas investors buy U.S. Treasuries and bonds, this helps keep rates low.

The Fed meets next week for their Federal Open Market Committee meeting. They are expected to raise policy rates, but mortgage rates should be unaffected.

 

Homes for sale are not lingering on the market for long. Properties typically sold in 27 days, shorter than the 30-day median from a year ago.

Although mortgage rates have moved up a bit, mortgage purchase applications were actually up 1% over the previous week and were up 4% over last year.

Younger Americans are waiting longer to get married, according to CNBC. However, marrying later means they could have more money for home buying.

 

Police have arrested the World Tongue-Twister Champion. I imagine he’ll be given a tough sentence.

 

This week’s potential market moving reports are:

 

Tuesday, September 18th:         Home Builders Index

Wednesday, September 19th:    Housing Starts, Building Permits

Thursday, September 20th:        First Time Jobless Claims, Existing Home Sales

Friday, September 21st:             PMI Manufacturing

 

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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