Shelter Six: Homeownership Rates Continue to Surge

November 12, 2018 by · Leave a Comment

1. As expected, the Federal Reserve held off on raising short-term rates at last week’s policy meeting but left the door open for another rate hike in December. 2. October’s Producer Price Index came in a good bit higher than expected and was 2.9% higher than a year ago. Higher inflation is never good for […]

Shelter Six:  The Economy Added 250K Jobs in October

November 5, 2018 by · Leave a Comment

1. The strong economy just keeps rolling along as evidenced by Friday’s Employment Report, which showed the economy adding 250K jobs in October! 2. The U.S. has now averaged 211K new jobs per month over the past year, while Unemployment has dropped to only 3.7%, the lowest level since 1969. 3. Average Hourly Earnings are […]

Shelter Six:  GDP Remains Strong

October 29, 2018 by · Leave a Comment

1. Gross Domestic Product (GDP), the broadest measure of economic growth, was up a solid 3.5% for the recently completed 3rd Quarter (3.3% expected). 2. GDP was also up a whopping 4.2% during the 2nd Quarter, making for the strongest back-to-back quarters for GDP since 2014. 3. Thursday’s highly anticipated European Central Bank meeting brought […]

Shelter Six:  Home Purchases Predicted to Increase in 2019

October 22, 2018 by · Leave a Comment

1. The Mortgage Bankers Association (MBA) is forecasting that the strong U.S. economy, combined with low unemployment and rising incomes, will lead to a boost in home buying in 2019. 2. The MBA predicted at its Annual Conference last week that 2019 residential purchase mortgage originations will grow 4.2% over 2018 reaching $1.2 Trillion. 3. […]

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 […]

Next Page »