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Say goodbye to 2018! {Market Report} January 2nd

Say goodbye to 2018! {Market Report} January 2nd
January 2, 2019 abryant

 

 

Happy New Year to You!

Sending best wishes for you and yours, now and always.

 

 

I bet Einstein would have liked color.

Never play leapfrog with a unicorn.

I wish there was a pen that could copy and paste.

 

Now The Market Report . . .

 

Early holiday shopping numbers are on track to break season records. However, stocks are still volatile and trending downward, despite the strong consumer spending.

The reversal in stocks this year has helped mortgage rates improve from October levels. Although the Fed increased policy rates, mortgage rates have improved.

The economic outlook heading into 2019 is concerning investors. As they turn to the safety of bonds for protection, mortgage rates could continue to improve.

 

Annual home price gains have slowed nationwide, according to Case-Shiller. Even still, prices increased 5.5% year-over-year, holding steady from last month.

The current partial government shutdown may have some effect on mortgages and housing. Flood insurance and tax transcripts could be the most affected.

A recent survey of homeowners showed aesthetic appeal, affordability, commute times and neighborhood character were the top reasons for picking a home.

 

“What the new year brings to you will depend a great deal on what you bring to the new year.”
Vern McLellan  

 

This week’s potential market moving reports are: (Due to the government shutdown, some reports listed below may not be released as scheduled)

 

Monday, December 31st:     New Years Eve, No Data Reported

Tuesday, January 1st:           New Years Day – All Markets Closed

Wednesday, January 2nd:   PMI Manufacturing Index

Thursday, January 3rd:         First Time Jobless Claims, Construction Spending

Friday, January 4th:               National Employment

 

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