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Reverse Mortgages, The Dodgers and Rates creep higher! {Market Report} October 15th

Reverse Mortgages, The Dodgers and Rates creep higher! {Market Report} October 15th
October 15, 2018 abryant

 

 

Do you know anyone interested in a Reverse Mortgage? American Family Funding is hosting a complimentary dinner with Reverse Mortgage expert Des Lenz on Tuesday, October 23rd, 6-8 PM, at Wolf Creek Restaurant. Des will offer examples on how a reverse mortgage can be used as an effective retirement tool and answer your questions.

Come watch the Dodgers with us next week!  If the series ends before Friday, we’ll watch them in the World Series!  Either way, we’re throwing a Dodger Party!

 

 

I feel bad for a giraffe who has to throw up.

If the batteries in our T.V remote are dead … Why do we keep pushing the button until our fingers hurt ?.

I have CDO, it’s like OCD but all the letters are in alphabetical order…As they should be.

When I get bored, I look through my entire phone to see if there are any cool options I missed.

$19.99 Because $20.00 is an outrageous amount of money.

 

Now The Market Report . . .

 

The weekly rate change was small, yet mortgage rates continued to creep up as 10-year Treasury bond yields hit a 7-year high. Rising bond yields pressure mortgage rates higher.

Along with a growing economy, inflation puts upward pressure on rates. Core wholesale inflation (stripping out food and energy prices) rose slightly in September.

The labor market continues to show strength, despite jobless claims coming in higher than expected last week. Claims still remain near a 49-year low.

 

Although mortgage rates have risen, applications still remain strong. Purchase applications were down 1% over the previous week but 2% higher over last year.

CoreLogic shows that loans 30 days or more past due dropped from 4.3% to 4.1%. Seriously delinquent loans also dropped from 1.7% to 1.6%.

Home inventory is showing signs of improving in different markets across the nation. More inventory could help offset rising mortgage rates to improve sales.

 

I once worked as a salesman and was very independent. I took orders from no one.

 

This week’s potential market moving reports are:

 

Monday, October 15th:          Retail Sales

Tuesday, October 16th:         Industrial Production, Home Builder Index

Wednesday, October 17th:    Housing Starts, Building Permits, FOMC Minutes

Thursday, October 18th:        First Time Jobless Claims

Friday, October 19th:             Existing 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.