Shelter Six:  Only a One Year Wait After a Bankruptcy or Short Sale

November 18, 2019 by · Leave a Comment

October Retail Sales figures were up a solid .3% from a slow September providing some strong momentum as we head into the important holiday shopping season. Core inflation eased slightly from last month and was 2.3% higher than a year ago. Federal Reserve Chairman Powell said there will be no more rate hikes if the […]

Shelter Six:  Rates Surge on Rumors of a Trade Deal with China

November 11, 2019 by · Leave a Comment

Optimism that the first phase of a trade deal with China will be signed was good news for the economy but caused mortgage rates to push to the highest level in three months. After falling to a 3-year low, a national services sector report rose much higher than expected in October suggesting the economy is […]

Shelter Six:  Home Sales Continue to be Stronger Than Last Year

October 28, 2019 by · Leave a Comment

September Existing Home Sales, which make up 90% of the market, fell a little more than expected from August but were up 4% over last year. September New Home Sales, which make up the remaining 10% of the market, also fell a little more than expected from August but were up 16% over last year. […]

Shelter Six:  British Parliament Rejects Latest Brexit Proposal

October 21, 2019 by · Leave a Comment

Over the weekend, British Parliament rejected the latest Brexit proposal creating much uncertainty as the deadline for a deal with the European Union is now only ten days away. Political and economic uncertainty around the globe, like exists now in England, China, and Spain, attracts money to the “safe” U.S. bond market which helps keep […]

Shelter Six:  Rates Move Higher as Trade Talks with China Turn More Optimistic

October 14, 2019 by · Leave a Comment

Trade talks between the U.S. and China resumed last week and comments from officials have suggested that the two sides are close to reaching a limited agreement. The next step with China is a key meeting between President Trump and Chinese Vice Premier Liu He scheduled to take place this Friday. The latest inflation data […]

Shelter Six:  Freddie Mac Forecasts Strong Housing to Continue

October 7, 2019 by · Leave a Comment

Reports monitoring Employment, Average Hourly Earnings, Manufacturing, and the Services industry all came in weaker than expected last week. The Unemployment Rate, however, unexpectedly nosedived to 3.5%, the lowest level since 1969! Although weaker than expected, the economy did add 136K new jobs in September, not bad historically. Freddie Mac also released a very upbeat […]

Shelter Six:  New Home Sales Figures Surge

September 30, 2019 by · Leave a Comment

The latest inflation data matched expectations and had little impact as the key index was 1.8% higher than a year ago but continues to be below the Fed’s stated target level of 2.0%. New Home Sales account for just 10% of the market but the monthly data is particularly important because the report is a […]

Shelter Six:  August Home Sales and Housing Starts Jump Higher Than Expected

September 23, 2019 by · Leave a Comment

As expected, the Federal Reserve cut short-term rates by .25% last week.  This cut was already built into mortgage rates and did not lead to them dropping further. August Existing Home Sales shot up more than expected from July to the strongest level since March 2018. The national median existing-home price is up 5% from […]

Shelter Six:  Mortgage Rates Shoot Up

September 16, 2019 by · Leave a Comment

U.S. consumer spending remains strong as evidenced by the August Retail Sales figures, which were up .4% from July and double the amount expected. Although the manufacturing sector continues to struggle mostly due to increased tariffs, consumers have shown few signs of slowing down heading into the important holiday shopping season. Mortgage rates spiked higher […]

Shelter Six:  U.S. Economy Continues to Show Strength

September 9, 2019 by · Leave a Comment

Last week’s Employment Report showed the economy adding 130K jobs in August, a solid gain but a little lower than the 150K new jobs expected. Unemployment remained at 3.7% but Average Hourly Earnings rose more than expected and were up a strong .4% from July. The U.S. economy is still clearly going strong with particular […]

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