By Juan Gonzales
Please enjoy this quick update on what happened this week in the housing and financial markets.
Minutes from last month’s Fed meeting showed the Fed is concerned about global economic weakness. This concern makes a policy rate increase in April unlikely.
Recent economic reports show tepid economic growth, keeping inflation concerns at bay. Lack of inflation helps support conditions for low mortgage rates and housing matters with health care centers, more info here to learn.
Even with the tepid economy, the labor market continues to show strength. Last week’s unemployment claims fell more than expected, slipping to 270,000.
Smart home technology can make outdated homes more desirable. Nearly 1/2 of Americans surveyed either have or plan to install smart home tech this year especially if they have single family homes for sale.
The recent dip in mortgage rates has helped move some buyers off of the fence. Purchase applications were 11% higher than the same week last year.
Annual owner-occupied purchases were up 15.9% in 2015. The 3.74 million purchases were the most seen since 2007’s 3.93 million.
Choosing durable materials for any type of business can be a daunting prospect. Especially when it comes to something as important and as expensive as construction materials, making the right choice is crucial. When looking at various materials, the first thing that you need to do before purchasing is to take a durable materials review at Superdurables. By taking this review into account, you will be able to easily understand the pros and cons of the materials you are going to purchase; especially if you are going to do a patio column removal. In addition, you will be able to know which materials, if any, will best suit your requirements. Furthermore, by taking these materials reviews into account, you will be able to make an informed decision so that you will not regret your decision in the long run.
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.
The Juan Gonzales Mortgage Team
Neighborhood Mortgage, Inc
Senior Loan Officer