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What a trade deal could mean for rates! {Market Report} November 18th

What a trade deal could mean for rates! {Market Report} November 18th
November 19, 2019 abryant

 

Sometimes the best part of my day is that my chair swivels.

Fortune cookie: To be happier in the future eat more cookies.

Today saying…hug your family and pray for the victims of the horrible tragedy at Saugus High School.

Most of us don’t realize it, but we’re all part of something much bigger than ourselves, and we’re all connected in some way, not just through Facebook.

 

Now The Market Report . . .

 

Trade talks with China continue, as the two sides try to reach a ‘phase one’ deal. A signed deal could pressure mortgage rates slightly higher, as it is expected to improve the economy.

October’s consumer prices saw their largest gain since March. Underlying inflation picked up slightly, supporting the Fed’s stance of holding off on more rate cuts in the near term.

Producer prices rose by the most in 6 months in October, due to gains in the costs of goods and services. Rising inflation follows fairly upbeat economic data, including strong job growth in October.

 

According to NAHB’s Housing Trends Report, 12% of adults are considering a home purchase within the next 12 months. Roughly 60% of these will be first time buyers.

NAR recently approved MLS Statement 8.0 or the Clear Cooperation policy. Listing brokers are now required to submit listings to the MLS within 1 business day of marketing to the public.

Despite a rise in unconventional mortgage lending, economists do not believe we’re headed for a mortgage meltdown. These loan types represented less than 3% of all loans made in 2018.

 

“If at first you don’t succeed, then skydiving definitely isn’t for you.”
Steven Wright

 

This week’s potential market moving reports are:

 

Monday, November 18th:           Home Builders Index

Tuesday, November 19th:           Housing Starts, Building Permits

Wednesday, November 20th:    MBA Mortgage Applications, FOMC Minutes

Thursday, November 21st:         First Time Jobless Claims, Existing Home Sales

Friday, November 22nd:             Manufacturing Index, Consumer Sentiment

 

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.