Shelter Six:  Rates Hold Steady Despite Strong Jobs Report

June 7, 2021 by · Leave a Comment

The economy gained 559K jobs in May, a little less than expected but more than double the level from April. The Unemployment Rate is now down to 5.8% nationally. Average Hourly Earnings, an indicator of wage growth, were a very strong 2% higher than a year ago. Even with May’s solid job gains, the economy […]

Shelter Six:  Inflation Takes Off as Economy Reopens

May 31, 2021 by · Leave a Comment

Reduced economic activity during the pandemic over the last year caused a large decline in inflation that was a key reason mortgage rates moved and stayed so low. Now that the economy is reopening, inflation is really taking off and hitting the highest levels seen in decades. Only time will tell how sustainable the rise […]

Shelter Six:  Home Prices Jump 19% Over Last Year

May 24, 2021 by · Leave a Comment

April Existing Home Sales fell unexpectedly 3% from March, but were 34% higher than a year ago and 11% higher than April 2019. The Median Existing-Home Price jumped 19% from last year to a record level of $341,600. The number of homes for sale was 21% lower than a year ago and represents just a […]

Shelter Six:  Shelter Relaunching Bank Statement Loan

May 16, 2021 by · Leave a Comment

Fannie Mae’s latest National Housing Survey indicated that 67% of respondents viewed the present as a good time to sell a home, up 8% from March. Hot off the reopening of the economy, the April Core Consumer Price Index (CPI) jumped .8% from March, well above the consensus forecast of .2%. April Retail Sales were […]

Shelter Six:  Mortgage Rates Hit Lowest Point in 3 Months

May 10, 2021 by · Leave a Comment

The economy added 266K jobs in April, which would normally be considered massive, only that 1M were expected this month. The shortage was due to mismatches in job openings and available workers, distorted seasonal adjustments, and temporary supply chain disruptions. The Unemployment Rate increased from 6.0% to 6.1%. Average Hourly Earnings, an indicator of wage […]

Shelter Six:  Pending Home Sales Up in March

May 3, 2021 by · Leave a Comment

Pending Home Sales stopped a 4-month slide and rose 2% in March and 23% year-over-year. The Case-Shiller National Home Price Index rose a whopping 12% in February after increasing 11.2% in January. 1st Quarter GDP rose at an annualized rate of 6.4%, which was the second-best reading since 2003, behind only the 3rd Quarter of […]

Shelter Six:  Median Home Price Surges to All-Time High

April 26, 2021 by · Leave a Comment

Nationally, March New Home Sales rose 21% from February and 67% from last year, setting a post-recession high by topping 1M units. March Existing-Home Sales, which make up about 90% of the market, declined for the second straight month and were 4% lower than February, but still up 12% from last year. The March median […]

Shelter Six:  Low Housing Inventory Being Aided by Strong New Construction

April 19, 2021 by · Leave a Comment

Nationally, March Housing Starts jumped a stronger-than-expected 19% from February to the fastest pace since 2006. Building Permits increased nearly 3% to 1.77M units, reflecting a quick snapback from the weather-induced downturn in February. With such strong housing metrics, it is not surprising that Homebuilder Confidence continues to hover around all-time highs. Consumers, armed with […]

Shelter Six:  Economy Hitting on All Cylinders Right Now

April 12, 2021 by · Leave a Comment

A deeper dive into the massive 916K new jobs added in March indicates that 110K of them were in construction, which could really help with the home inventory shortage. Also promising is a Fannie Mae survey showed the number of homeowners indicating that it is a “good time to sell” surged to the highest level […]

Shelter Six:  Job Growth, Manufacturing, and Consumer Confidence Surge

April 5, 2021 by · Leave a Comment

In March, the economy added 916K news jobs, significantly greater than expected, and the national Unemployment Rate dropped from 6.2% to 6%. March was also a huge month for manufacturing as they key sector index surged to the highest level since 1983. U.S. Consumer Confidence jumped to the strongest level since before the pandemic thanks […]

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