Shelter Six:  Federal Reserve Bumps up Rates .25%

June 18, 2018 by · Leave a Comment

1. As expected, the Federal Reserve increased short-term rates by .25% last week.  The net effect on mortgage rates was minimal. 2. For the third straight month, Retail Sales were much higher than expected with solid gains in May. 3. After weak Retail Sales reports over the first quarter of the year, investors’ concerns about […]

Shelter Six:  Free Credit Report Freeze Coming This Fall

June 11, 2018 by · Leave a Comment

1. Thanks to recent legislation, this September Americans will be able to freeze their credit at all three credit bureaus free of charge. 2. This will be a great way to protect personal information from credit fraud and identity theft thanks to the Economic Growth, Regulatory Relief & Consumer Protection Act signed in May. 3. […]

Shelter Six:  Very Strong May Employment Report

June 4, 2018 by · Leave a Comment

1. The U.S. added a very strong 223K jobs in May, much higher than expected. 2. The U.S. economy has now added an average of 207K jobs per month so far this year. 3. The Unemployment Rate is now down to 3.8%, the lowest level since 2000. 4. Fannie Mae’s Home Purchase Sentiment Index measures […]

Shelter Six:  Regulatory Relief Act Signed Into Law

May 29, 2018 by · Leave a Comment

1. On Thursday, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act into law. 2. This act represents the largest rollback of bank regulations since the financial crisis, improves consumers’ access to credit, and streamlines mortgage TRID requirements. 3. Italy formed a new government last week increasing uncertainty around whether the country […]

Shelter Six:  No Tax Returns Required for Investment Property loan

May 21, 2018 by · Leave a Comment

Shelter’s new SmartVest program allows an experienced real estate investor to buy up to 15 financed investment properties with no income documentation or debt ratio calculation. The qualification on a SmartVest loan is based on a property cash-flow analysis and allows investors to close in the name of an LLC with interest-only loan options. Consumer […]

Shelter Six:  Home Price Appreciation Continues to Surge

May 14, 2018 by · Leave a Comment

1. Metro Atlanta home prices surged 6.5% in February outpacing the national average of 6.3%, according to the latest S&P CoreLogic Case-Shiller Index. 2. March Existing Home Sales were up 1% from February and were about the same as this time last year. 3. March New Home Sales were up 4% from February, were 9% […]

Shelter Six:  Unemployment Drops to 3.9%

May 7, 2018 by · Leave a Comment

1. The economy added 164K jobs in April.  Although 190K were expected, upward revisions added 30K jobs to results for prior months bringing net gains very close to expected levels. 2. The unemployment rate declined from 4.1% to 3.9%, the lowest level since December 2000. 3. The decline in Unemployment was mostly due to workers […]

Shelter Six:  Credit Reports to No Longer Include Tax Liens

April 30, 2018 by · Leave a Comment

Three years ago in the aftermath of a settlement with 31 state attorney generals, the three national credit bureaus launched the National Consumer Assistance Plan (NCAP) in an effort to make credit reporting more accurate and credit problems easier to fix. Last year, as a key NCAP initiative, Equifax, TransUnion, and Experian removed all civil […]

Shelter Six:  Potential Trade War Biggest Risk to Economy

April 23, 2018 by · Leave a Comment

1. According to Fannie Mae’s latest economic report, U.S. economic fundamentals remain strong with the stimulus from the tax cut and new federal budget working well. 2. According to the report, the biggest economic downside risk at this time is the potential trade war with China. 3. Fannie Mae expects the Fed to raise interest […]

Shelter Six:  Optimistic Survey Points to Healthy Spring R.E. Market

April 16, 2018 by · Leave a Comment

1. Fannie Mae’s March National Housing Survey painted a very optimistic picture with more respondents indicating that it is a good time to both sell and buy a home. 2. Detailed minutes from the Fed’s March 21 meeting gave insight that Fed officials expect US economic growth to be stronger than average for the next […]

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