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Weekly Expert Update (Market Report) – February 28, 2022

Weekly Expert Update (Market Report) – February 28, 2022
March 7, 2022 abryant

 

Consumer confidence fell to a 5-month low in February, with fewer consumers planning to spend on homes, automobiles, and vacations.
Concerns over even greater inflation are mounting this week, as oil prices surged to more than $100 a barrel for the first time since 2014.
The labor market continues to show strength. Last week’s unemployment claims were lower than expected, and continuing claims hit a 52-year low.
Homebuilder confidence fell for the 2nd straight month, as builders face delays for cabinets, garage doors and appliances needed to finish homes.
January existing home sales jumped 6.7% over December, even though the supply of homes for sale fell to a record low, down 16.5% from a year ago.
The Federal Housing Finance Agency reported U.S. house prices rose 17.5% overall from the 4th quarter of 2020 to the 4th quarter of 2021.

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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