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Weekly Mortgage Update: January 14th, 2018′

January 17, 2018dillonBlog0

WEEKLY MORTGAGE UPDATE – JANUARY 14, 2018

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FIRST TEAM’S WEEKLY MORTGAGE WATCH (JANUARY 14TH, 2018) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Mortgage rates moved upward last week.
  • Economic news continues to point toward solid economic growth both here and abroad, with some signs that inflation may finally be taking hold.
  • Retail Sales grew 0.4%, right in alignment with expectations.
  • While both the Consumer and Producer Price Indices’ headline numbers were soft, the core readings revealed some increasing price pressures.
  • International news also pressured rates upward. The European Central Bank has tagged September as the end of their quantitative easing program, and Japan is showing signs of ending its long program of holding rates at zero.
  • Markets got a little spooked when news broke that China, the world’s largest investor in US treasuries, was considering trimming its purchases. Chinese officials denied the news.
  • This week would easily see rates continuing to march slowly upward, especially if we see Industrial Production numbers beat predictions.
  • Additionally, if weekly jobless claims drop back below 250K, easing labor market concerns, mortgage rates will feel even more pressure to climb higher.

SOCIETAL OCD KICKING IN THE KITCHEN

The 2018 U.S. Houzz Kitchen Trends Survey revealed that the number one priority in the kitchen is storage. While we love our kitchen gadgets, tools, and appliances, clutter in the kitchen seems to be driving us crazy. The growth in sales of recycling baskets, cookie sheet organizers, revolving corner trays, drawer organizers, and pull-out or swing-out trays and shelves supports these results. Runners-up for kitchen priorities include easy-to-work in, entertain in, and clean.

Weekly Mortgage Update: January 7th, 2018

January 8, 2018dillonBlog0

WEEKLY MORTGAGE UPDATE – JANUARY 7, 2018

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FIRST TEAM’S WEEKLY MORTGAGE WATCH (JANUARY 7TH, 2018) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Mortgage rates launched into 2018 with a small dip. Despite another week of mostly positive economic data, rising stock markets, and many other interest rates moving upward, mortgage rates moved slightly downward.
  • While much hay was made over the under-expectations employment report, the sub-par 148,000 new jobs number will likely be revised higher in the coming months, as December’s data is often incomplete.
  • The ISM reports split direction with manufacturing surging ahead and services cooling. Both remain well on the “expansion” side of their equations.
  • Some of the trepidation of raising mortgage rates may have come from the minutes of the last Fed meeting.
  • There was ample concern about how the tax bill may impact the economy, which adds to future uncertainty.
  • This week is likely to see rates working to move upward. However, the lack of growing inflationary pressure seems to be significantly helping hold rates in check.
  • If the Producer and Consumer Price Indices reveal another month of non-threatening prices increases, rates could even dip slightly.

FINDING YOUR PERFECT WORK-LIFE BALANCE

Looking for that work-life balance? SmartAsset released an analysis attempting to find the perfect cities for perfect balance. The factors studied included the concentration of entertainment establishments, bars and restaurants, housing costs, home values, average weeks worked, average hours worked, average commute times, unemployment rate, and labor force participation rate. The top cites are Madison, WI, Lincoln, NE, Omaha NE, Lubbock, TX, and Columbus, OH.

Weekly Mortgage Update: 01/02/2018′

January 2, 2018dillonBlog0

WEEKLY MORTGAGE UPDATE – DECEMBER 31, 2017

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FIRST TEAM’S WEEKLY MORTGAGE WATCH (DECEMBER 31ST, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • 2017 ended with mortgage rates remaining at astonishingly competitive levels. Despite year-after-year predictions that rates would be climbing, we’ve finished another year with low rates.
  • Much of last week’s increase was due to traders locking in profits, as the one economic report, Consumer Confidence, posted a significant decline, which was likely due to the drama about the tax legislation.
  • This week starts with the ISM Manufacturing Index and ends with the monthly employment data.
  • According to some models, GDP for the fourth quarter may be running at 2.8%. If this week’s data reveals that December was a better month than expected, then we could see those models adjusted upward to 3.0% or better.
  • This would be significant as we haven’t seen three quarters with 3.0% GDP or better growth since 2004-2005.
  • As we watch pundits and experts make their predictions for rate trends in 2018, it is well worth noting that we are in completely uncharted economic territory. The most important thing, when dealing with mortgages, is to work with someone that you trust.

LOAN LIMITS MOVING UPWARD AGAIN

Every year, Fannie Mae and Freddie Mac adjust their loan limits. This year the limits will be raised by about seven percent. The standard loan limit is increasing from $424,100 to $453,100. In high-cost areas, the limit can go as high as $679,650. The Federal Housing Administration is required to match the Freddie and Fannie limits, so FHA loan limits will also rise. Want to know what this means for you? Please give me a call and we can discuss how this impacts you.

  • Phone

    714-693-1180
  • Email

    KriFowler@aol.com
  • Address

    18180 Yorba Linda Blvd.
    Suite #501
    Yorba Linda, CA 92886
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