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Weekly Mortage Update – July 30th, 2018′

July 31, 2018dillonBlog0

First Team’s Weekly Mortgage Watch (July 29th, 2018) This Week Highlights The Following Updates:

  • Housing and GDP dominated the news last week, with mortgage rates nudging slightly upward.
  • Both Existing and New Home Sales moved downward again, creating some discussion that we may be at the peak for this cycle with some predicting a significant downturn to come.
  • However, it is likely too early to predict any real dramatic future plunge according to experts.
  • GDP for Q2 blasted to its highest level since 2014, leading some to predict years of supercharged growth. The majority of economists don’t share that view, and few are predicting an annual GDP rate over 3.0% for 2018.
  • This week could be a huge week for financial markets. In addition to the ISM Indices, Consumer Confidence, and monthly employment data, the Fed meeting adjourns on Wednesday.
  • The market is expecting no change in the Fed’s rates, but we could get hints as to whether this strong GDP report, coupled with a solid labor market and moderate inflationary pressure, are enough to shift Fed policy to signal the potential for the Fed to consider adding another rate increase in the near future.

FHFA Forced To Pause New Credit Score Decision

An estimated 7.6 million Americans may have the equivalent of a 620 credit score if a new model could be adopted for those lacking traditional credit scores. FHFA was due to issue an update on its process of developing that new score, but a bill that passed in May has taken precedent. The new law will undo some of the changes made by Dodd-Frank Wall Street Reform and Consumer Protection Act. A new credit score may still in the future, but no timeline is set.

Weekly Mortgage Update – June 24th, 2018

June 25, 2018dillonBlog0

First Team’s Weekly Mortgage Watch (June 24th, 2018) This Week Highlights The Following Updates:

  • Last week saw mortgage rates wobble about with no clear direction. Housing data revealed that builders are still very optimistic but continue to remain cautious as they slowly increase the number of permits that they pull.
  • Existing home sales slipped back for the second month, but inventory levels did step upward again. Additionally, home price acceleration is showing some signs of slowing.
  • The LEI did increase by 0.2%, the smallest increase in eight months.
  • This week may feature some strong debate about the relative health of the overall economy.
  • The final estimate for Q1 GDP is due, with expectations of no change to its 2.2% rate. While the overall economy remains strong, the debate continues as to whether it is growing faster.
  • Since the beginning of the recovery, an annual GDP of 2.9% in 2015 was the best.
  • Any adjustments downward in GDP make it slightly harder to hit that 3.0% mark and could help mortgage rates remain low. Even with little political drama to sway rates last week, doesn’t mean we won’t see more this drama week.

Affordability Continues To Decline

According to data released by ATTOM Data Solutions, median home prices in the US have risen 75% since the beginning of 2012. During the same period of time, wages growth has only increased by 13%. Historically, an average earner would need to spend 29.6% of their income on housing. Now, that same earner would need to spend 31.2%. Many experts are concerned that increasing mortgage rates will continue to push this trend, stressing home affordability.

Weekly Mortgage Update: 01/02/2018′

January 2, 2018dillonBlog0

WEEKLY MORTGAGE UPDATE – DECEMBER 31, 2017

Click here to download the PDF.

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.

Open House Schedule: 12/02/2017 & 12/03/2017

December 2, 2017dillonBlog, Open Houses0

OPEN SATURDAY from 1:00 – 4:00 pm (12/02/2017)

We're sorry, but we couldn't find MLS # PW17207060 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SATURDAY from 1:00 – 4:00 pm (12/02/2017)

We're sorry, but we couldn't find MLS # PW17221054 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SUNDAY from 1:00 – 4:00 pm (12/03/2017)

We're sorry, but we couldn't find MLS # PW17264733 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SUNDAY from 1:00 – 4:00 pm (12/03/2017)

We're sorry, but we couldn't find MLS # PW17212958 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Open House Schedule 11/18/2017 & 11/19/2017

November 18, 2017dillonOpen Houses0

Kristen Fowler Group has 5 different properties Open this weekend between Saturday and Sunday. We hope you can make it out! Call us today with any questions direct at 714-693-1180

OPEN SATURDAY from 1:00 – 4:00 pm (11/18/2017′)

We're sorry, but we couldn't find MLS # PW17255513 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SATURDAY from 1:00 – 4:00 pm (11/18/2017′)

We're sorry, but we couldn't find MLS # PW17207060 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SUNDAY from 1:00 – 4:00 pm (11/19/2017′)

We're sorry, but we couldn't find MLS # PW17212958 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SUNDAY from 1:00 – 4:00 pm (11/19/2017′)

We're sorry, but we couldn't find MLS # PW17250436 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SUNDAY from 1:00 – 4:00 pm (11/19/2017′)

We're sorry, but we couldn't find MLS # PW17221054 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

Weekly Mortgage Update: October 23rd, 2017′

October 23, 2017dillonBlog0

WEEKLY MORTGAGE WATCH – OCTOBER 22, 2017

Click here to download the PDF.

FIRST TEAM’S WEEKLY MORTGAGE WATCH (OCTOBER 22ND, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Mortgages rates were slightly up last week, with stock markets pulling some cash out of bonds.
  • Industrial Production did step somewhat higher, and the Beige book noted improvement in one Fed district.
  • Existing Home Sales did manage a small uptick, while Housing Starts moved in the opposite direction.
  • Storm-related issues appear to continue to impact some indicators, including weekly jobless claims and the Leading Economic Indicators.
  • To the frustration of some, we seem to be plodding along the same economic course that we have for years. While it may lack pizzazz and great headlines, we have had continued economic growth, job growth, and low inflation.
  • This week, we may see mortgage rates tick up slightly, especially if stock markets continue to rocket higher, as they did last week.
  • However, if the first estimate of last quarter’s GDP hits 3.0%, which is above most economists’ expectations, then we would see rates flaring higher.
  • However, if GDP drops below 2.0%, we could see mortgage rates end the week on a downward trajectory.

WHERE IS IT THE MOST EXPENSIVE TO BUILD A HOUSE?

The National Association of Home Builders analyzed all the data from 2016 to discover what it costs to build a house around the country. The most expensive was a contractor-built home in the Pacific region, coming in at $164 per square foot, excluding improved lot costs. The cheapest homes were spec homes built in the in the East South Central (VA, TN, AL, and MS) coming in at $91 per square foot. The national average worked out to be $101 per square foot.

Open House Schedule 10/14/17 & 10/15/17

October 13, 2017dillonBlog, Open Houses0

Kristen Fowler Group has 5 different Properties Open this weekend Between Saturday (10/14/2017) & Sunday (10/15/2017). Hopefully you have time to come take a look! Call us direct at 714-693-1180 for all your Real Estate needs.

OPEN HOUSE SATURDAY 10/14/2017′ from 1:00 – 4:00 pm

We're sorry, but we couldn't find MLS # PW17214098 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN HOUSE SATURDAY 10/14/2017′ from 1:00 – 4:00 pm

We're sorry, but we couldn't find MLS # PW17221054 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN HOUSE SATURDAY 10/14/2017′ from 1:00 – 4:00 pm

We're sorry, but we couldn't find MLS # PW17219451 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN HOUSE SUNDAY 10/15/2017′ from 1:00 – 4:00 pm

We're sorry, but we couldn't find MLS # PW17212958 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN HOUSE SUNDAY 10/15/2017′ from 1:00 – 4:00 pm

We're sorry, but we couldn't find MLS # PW17207060 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

Labor Day Weekend Open House Schedule 09/02 & 09/03

September 1, 2017dillonBlog, Open Houses0

Kristen Fowler Group would like to wish everyone a Happy Labor Day Weekend!! If you’re planning a ‘stay-cation’ come take a look at the Properties we will have Open Saturday (09/02/2017) and Sunday (09/03/2017) between 1:00-4:00 pm. Our family is committed to bringing all our clients exceptional service Thinking of Buying or Selling? Call us direct @ 714-693-1180.

OPEN SATURDAY from 1:00 – 4:00 pm (09/02/2017)

We're sorry, but we couldn't find MLS # PW17182750 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SUNDAY from 1:00 – 4:00 pm (09/03/2017)

We're sorry, but we couldn't find MLS # PW17110530 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Weekly Mortgage Update: August 21st, 2017′

August 21, 2017dillonBlog0

WEEKLY MORTGAGE WATCH – AUGUST 21, 2017

Click here to download the PDF.

FIRST TEAM’S WEEKLY MORTGAGE WATCH (AUGUST 20TH, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Retail Sales data came in strong for July, with adjustments upward for both May and June. Industrial Production also posted a reasonable increase.
  • Weekly jobless claims posted another very low reading. However, even with what looks like decent economic data, mortgage rates remain almost unchanged. Some of this may have been due to the minutes from the latest meeting of the Federal Reserve.
  • The notes have led analysts to believe that we may not see the start of the trimming of the Fed’s balance sheet until perhaps 2018.
  • Without any threatening inflation concerns, we could even see an increase in the Fed funds rate with a very limited impact on other rates.
  • Additionally, recent political turmoil continues to diminish the chances that any business-friendly legislation will be accomplished soon.
  • Political drama may dominate the news again this week, and with limited economic data due, rates are likely to remain in a very tight range.
  • We’ll also be getting another round of insight into the housing market, and all indications are that we’re continuing with strong sales and increased prices.

REAL ESTATE AGENTS SELL HOMES FOR MORE THAN FSBOS

Saving money is a smart thing to do. If you do it yourself, you can often save money. Real estate agents are sometimes accused of overcharging for their services, but a new study shows that they are worth it. Analyzing 2016 and the first half of 2017 sales, the researchers from Collateral Analytics found that FSBO’s netted 6% less than agent sales. In many cases, the spread was even wider. Factoring in the cost of marketing a home, using an agent is the cheaper way to go.

Open House 08/20/2017′

August 18, 2017dillonBlog0

Attention Potential Home Buyers! Kristen Fowler Group has a BRAND NEW LISTING in East Lake Village! Private backyard pool home with a Bedroom and Bath downstairs. We also have an entertainers dream home Open ‘same day’ this Sunday from 1:00 – 4:00 with countless high end professional upgrades. We hope you can make it out! Call us today for any questions regarding anything in North Orange County from Buying Selling Renting or Leasing we are happy to help. 714-693-1180

OPEN SUNDAY 08/20/2017 from 1:00 – 4:00 pm

We're sorry, but we couldn't find MLS # PW17191117 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

OPEN SUNDAY 08/20/2017 from 1:00 – 4:00 pm

We're sorry, but we couldn't find MLS # PW17110530 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

 

  • Phone

    714-693-1180
  • Email

    KriFowler@aol.com
  • Address

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