Shelter Six:  Stock Market Down, Credit Scores Up

October 15, 2018 by · Leave a Comment

1. The Dow Jones stock index plunged more than 1,000 points last week shaking up the financial markets but having only a minor impact on mortgage rates. 2. FICO consumer credit scores continue to surge hitting a record high of 704 last month.  Scores have slowly climbed each year since a low-point of 686 in […]

Shelter Six:  Red Hot Economic Data Pushes Mortgage Rates Higher

October 8, 2018 by · Leave a Comment

The economy continues to fire on all cylinders, which is great news for the future real estate sales, but not so great news for mortgage rates. Last Wednesday, the ISM National Services Index soared to 61.8, which is the highest level recorded since tracking began in 2008. This was followed by Friday’s Employment Report, which […]

Shelter Six:  The Fed Bumps up Rates .25% but Inflation Remains Tame

October 1, 2018 by · Leave a Comment

1. As expected, the Federal Reserve raised the Fed Funds Rate by .25% last week.  The next rate hike is expected in December. 2. The only surprise at the Fed’s post-meeting press conference was a favorable comment from Fed Chair Powell that Fed officials don’t see inflation spiking more than expected. 3. Following Powell’s comment […]

Shelter Six:  Home Sales Flat but Inventory up Slightly

September 24, 2018 by · Leave a Comment

1. After four straight months of declines, Existing Home Sales were flat in August. 2. Inventory was a little higher than a year ago though, marking the first year-over-year increase in about three years. 3. Inventory remained at a 4.3-month supply from July, which is still low considering a 6-month supply is considered healthy. 4. […]

Shelter Six:  Condo Financing Easier Than Ever

September 17, 2018 by · Leave a Comment

1. Inflation continues to be tame.  Last week’s Consumer Price Index figures came in lower than expected and were only 2.2% higher than a year ago. 2. After a hot spring and summer, Retail Sales cooled off in August coming in less than expected but July’s figures were revised higher by about the same amount […]

Shelter Six:  Strong Economic Data Leads to Higher Rates

September 7, 2018 by · Leave a Comment

1. Last week’s Employment Report came in stronger than expected as the economy added 201K jobs in August while Unemployment remained at 3.9% 2. The report’s biggest surprise was August Average Hourly Earnings, which came in 2.9% higher than a year ago and at the largest annual rate of increase since April 2009! 3. There […]

Shelter Six:  Consumer Confidence Surges

September 3, 2018 by · Leave a Comment

1. Optimism remains strong for the U.S. economy as Consumer Confidence figures surged last week far more than expected and to the highest level since 2000. 2. A strong labor market, solid economic growth, and record stock prices have contributed to the high level of optimism. 3. July Retail Sales, excluding the volatile auto component, […]

Shelter Six:  July Home Sales Drop Slightly

August 27, 2018 by · Leave a Comment

1. July New and Existing Home Sales both decreased a little from June, while national inventory also dropped slightly from June to a 4.3 month supply. 2. With low inventory and a healthy economy, builders are diligently trying to ramp up production to meet the housing demand. 3. For decades, single-family housing starts averaged about […]

Shelter Six:  Labor Market Remains Strong

August 20, 2018 by · Leave a Comment

1. The JOLTS report measures job openings and labor turnover rates.  Fed officials and investors value this data to help assess the strength of the labor market. 2. In June, there were 6.7M job openings, but only 6.6M people who reported that they were looking for work that month.  It is rare to see more […]

Shelter Six:  Surging Home Prices Equal Lower Affordability

August 13, 2018 by · Leave a Comment

1. Inflation is a major factor on interest rates and continues to gradually climb higher.  In July, Core PPI was up 2.7% while Core CPI was up 2.4%, the highest level since Sept 2008. 2. Metro Atlanta home prices have climbed 5.6% over the past year, according to the latest S&P CoreLogic Case-Shiller Index.  Nationally, […]

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