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Michael Creed

Markets in a Minute | October 6, 2017

 

 

Stock markets are once again hitting record highs, as traders’ appetite for risk increases. Strong equity markets can slow down improvements in mortgage rates.
Anticipated tax cuts are one of the drivers for improved equity markets. Corporate tax cuts are expected to help spur the economy, increasing rates.
Despite continued impact from Hurricanes Harvey and Irma, jobless claims fell this week. A strong labor market could support a Fed rate hike in December.

 

Kitchen renovations are among the top remodeling projects most likely to add value to a home at resale. Homeowners generally recover up to 57% of the cost.
Mortgage applications for purchases were slightly higher last week, up about 1%. That’s nearly 5% higher than a year ago, despite a shortage of inventory.
A national homebuilder is offering a program to pay student loan debt for homebuyers. The program pays up to $13,000 and up to 3% of the home price.

I told my girlfriend she drew her eyebrows too high. She seemed surprised.

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Markets in a Minute | September 29, 2017

 

 

President Trump released his plan for tax reform this week, which is expected to stimulate economic growth. A hotter economy could contribute to higher rates.
Consumer confidence fell slightly in September, despite a strong labor market. The decline is likely temporary and due mainly to Hurricanes Harvey and Irma.
The economy grew a bit faster than previously estimated in the 2nd quarter, with a GDP of 3.1%. Consumer spending was also strong for the 2nd quarter.

 

Home prices are still on the rise, with Case-Shiller reporting increases of 5.9% in July. Strong demand and tight inventory continue to drive up prices.
New home sales were at an 8-month low in August. Part of the blame can be placed on weather, which held back completion of homes under construction.
Pending home sales were down slightly in August, 2.6% less than July, largely due to low inventory. Demand continues to overwhelm supply in most markets.

 

Have you heard the rumor going around about butter? Never mind, I shouldn’t spread it.

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.