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Recession fears and rate news! {Market Report} August 19th

Recession fears and rate news! {Market Report} August 19th
August 19, 2019 abryant

Market Report - American Family Funding

 

 

 

Chocolate doesn’t ask silly questions, chocolate understands.

I’m gonna order a pizza 5 minutes before the new year, then when it arrives I’ll say “What took so long, I ordered this last year.”

Lies I tell myself: Just one more cookie. Just one more episode. Just one more minute.

Today I bought a doughnut without sprinkles. This diet thing is hard.

You have never experienced true fear until a poster falls off the wall in the middle of the night.

 

Now The Market Report . . .

 

Stocks plummeted this week as 10yr Treasury yields fell below those for 2yr bonds. The resulting inverted yield curve could indicate a coming recession.

Retail sales surged in July, which could ease worries of a pending recession. Inflation also picked up slightly in July as consumer prices increased.

Despite the recent economic data showing the economy isn’t slowing as drastically as some expected, mortgage rates remain low and could go lower.

 

Falling mortgage rates support home builder confidence. According to NAHB, builder confidence for single-family homes rose one point to 66 in August.

However, builders still are not producing enough homes to meet demand. Land and labor shortages contribute to higher costs, hindering new construction.

Lower mortgage rates boost buyer demand, but inventory remains an issue. Newly listed properties were down 7% in July compared to a year ago.

 

“Happiness is a direction, not a place.”
Sydney J. Harris

 

This week’s potential market moving reports are:

 

Monday, August 19th:             No Major Reports

Tuesday, August 20th:            No Major Reports

Wednesday, August 21st:       MBA Mortgage Applications, Existing Home Sales, FOMC Minutes

Thursday, August 22nd:         Jobless Claims

Friday, August 23rd:                New Home Sales

 

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.