Kristen Fowler Group

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Weekly Mortgage Update: (06/19/2017)

June 19, 2017dillonBlog0

WEEKLY MORTGAGE WATCH – JUNE 18, 2017

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FIRST TEAM’S WEEKLY MORTGAGE WATCH (JUNE 18TH, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Even with a Fed rate hike last week, mortgage rates barely budged.
  • The Fed did announce plans to begin reducing its massive balance sheet, at some point later in the year. The plan is very gradual and should help the market slowly adjust to a less accommodative policy.
  • Overall, the economy seems to continue to remain in the same slow recovery mode that we’ve all grown accustomed too. As the 2nd quarter’s data trickles in, it appears we won’t have any large increase in overall economic activity.
  • Industrial Production flat-lined, with manufacturing pulling back. 
  • Once again, inflationary pressures cooled while consumer moods are becoming less enthusiastic. 
  • Retail Sales retreated 0.3%. This week is relatively light for economic data, but we will get more insight into the housing market. We are expecting new and existing sales to head in opposite directions. If both can move upward, then we might see a little upward movement in rates.
  • However, given last week’s somewhat weaker-than-expected data, mortgage rates may have a stronger tendency to slip downward.

DON’T FLIP OUT. IT JUST MIGHT BE YOUR TURN

Many of us watch the television shows on flipping homes, and dream of breathing new life into that rundown gem of a home. Of course, flipping really is only for those can flip dozens of homes, right? Wrong! According to research from ATTOM data solutions, a whopping 69% of flippers in the first quarter of this year were mom and pop operations that only flipped one home.

Weekly Mortgage Update: (06/12/2017)

June 12, 2017dillonBlog0

WEEKLY MORTGAGE WATCH – JUNE 11, 2017

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FIRST TEAM’S WEEKLY MORTGAGE WATCH (JUNE 11TH, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Mortgage rates found room to trend downward last week, as politics weighed heavily on financial markets.
  • Domestically, the drama surrounding all things Russia continued to decrease the odds of the new administration completing any real regulatory or tax reform program.
  • “Across the pond,” the UK’s snap election resulted in a hung parliament, which translates into more uncertainty for the start of the BREXIT negotiations.
  • All of this pushed even more money into US Treasuries and bonds.
  • This week is heavy with economic data and a Fed meeting. Markets have already “baked in” another rate increase, but analysts will be scouring everything released from the Fed.
  • The big question will be how likely the Fed is to raise rates again.
  • A more dovish outlook from the Fed could actually help pull rates downward, slightly. This could easily be reinforced if any of the big economic reports, including Retail Sales or Industrial Production, come at, or under, expectations.
  • If the Fed surprises the market with no change to its rates, then we could see rates falling even further.

SURVEY SAYS: NOW IS THE TIME TO SELL

According to the latest Home Purchase Sentiment Index from Fannie Mae, 32% of Americans believe that now is a good time to sell their home. This represents the highest level in the seven-year history of this index, and a jump of 6 points over last month. Conversely, and unsurprisingly, the survey saw an 8 point drop to 27% of Americans who believe that now is a good time to buy a home. Interesting, only 40% of respondents believe that home prices will go up.

Weekly Mortgage Update: (06/05/2017)

June 6, 2017dillonBlog0

WEEKLY MORTGAGE WATCH – JUNE 4, 2017

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FIRST TEAM’S WEEKLY MORTGAGE WATCH (JUNE 4TH, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Mortgage rates slipped slightly as last week ended. 
  • While the ISM Manufacturing Index managed to squeeze out a slight increase, the rest of the week’s economic data told a tale that we’ve been hearing for some time – slow growth.
  • Friday’s employment report sported another drop in the unemployment rate, but it was due to folks leaving the workforce. Only 138,000 new jobs were created last month, and both April and March’s numbers were revised downward by a total of 66,000.
  • Consumer Confidence remains elevated, but slid a bit more, as consumers notched down future expectations.
  • This week is slim in terms of economic data points, but other factors could play heavily into financial markets’ volatility.
  • If the ISM Services Index remains mostly flat, it may help to anchor rates a bit. However, the political drama playing out in Washington and Europe could sway rates.
  • Former FBI Director Comey’s testimony, a snap election in the UK, and a meeting of the European Central Bank could make traders jittery, and the more uncertainty created, the more likely rates are to retreat.

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  • Phone

    714-693-1180
  • Email

    KriFowler@aol.com
  • Address

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