Shelter Six: Fed’s Commitment to Buying Bonds Should Keep Rates Low

January 18, 2021 by · Leave a Comment

Investors are clearly very optimistic that government stimulus and vaccines are going to lead to a fast economic recovery. December Retail Sales fell a disappointing.7% from November. Retail Sales plunged after the pandemic, then rallied for two months, but have been more-or-less flat since. Recent upward pressure on rates stems from the new bonds that […]

Shelter Six: Strong Economic Data Overshadows Weak Jobs Report

January 11, 2021 by · Leave a Comment

The economy lost 140K jobs in December. This was more than expected as 75K jobs had been expected to be gained. The Unemployment Rate remained at a flat 6.7%. Average Hourly Earnings rose .8% from November to an impressive 5.1% higher than a year ago. The ISM National Manufacturing Index jumped to 60.7 in December, […]

Shelter Six: Cash Sales Drop to Lowest Level in 13 Years

January 4, 2021 by · Leave a Comment

Last week, Congress passed a $900B Covid Relief Bill which includes supplemental unemployment benefits of $300 per month and direct payments to qualifying individuals of $600 per month. With vaccines already rolling out and more economic stimulus expected, the financial markets remain optimistic about the future, as evidenced by a rising stock market. Pending home […]

Shelter Six: Existing-Home Sales 26% Higher Than a Year Ago

December 28, 2020 by · Leave a Comment

The President signed the $900B Covid-19 Relief Bill into law on Sunday, keeping the US Government running, including USDA programs, through next September. November Existing-Home Sales, after five months of healthy gains, decreased 2.5% from October to an annual rate of 6.69M, 26% higher than a year ago. November New-Home Sales fell .9% to 845K […]

Shelter Six: Fed Meeting Brings Little Drama to Markets

December 21, 2020 by · Leave a Comment

Last week’s Federal Reserve Meeting produced little drama and reaction as it contained no significant market-moving announcements. November Retail Sales were down 1.1% from October as rising coronavirus cases halted consumer spending early in the crucial holiday shopping season. November Single-Family Housing Starts were up 22% over a year ago and at the best level […]

Shelter Six: Mortgage Rates Approach Lows Only Seen in August

December 14, 2020 by · Leave a Comment

Mortgage rates have been resiliently low most of the year but, at some point, they will push higher. There are three primary threats to low rates at this time. The first is if a potential new stimulus bill ends up being larger than the $1 Trillion bill that investors currently believe is going to soon […]

Shelter Six: FHA Loan Limits Increase for 2021

December 7, 2020 by · Leave a Comment

The maximum FHA loan limit for Metro Atlanta has increased from $401,350 to $412,850 for single-family properties. The FHA limits have also increased to $528,500 for 2-Unit, $638,850 for 3-Unit, and $793,950 for 4-Unit properties. The maximum Conforming loan limit increased last week from $510,400 to $548,250. In November, the economy gained 245K jobs and […]

Shelter Six: Conforming Loan Limit Shoots Up to $548,250

November 28, 2020 by · Leave a Comment

The 2021 Maximum Conforming loan limit for loans purchased by Fannie Mae and Freddie Mac is increasing 7.42% from $510,400 to $548,250. The 2-Unit limit is increasing to $702,000, the 3-Unit limit to $848,500, and the 4-Unit limit to $1,054,500. October New Home Sales remained steady around 1M units for the fourth straight month. The […]

Shelter Six: October Home Sales Surge to Best Level Since 2006

November 23, 2020 by · Leave a Comment

October economic reports released last week painted a strong picture of recovery starting with Existing-Home Sales, which were 4% higher than the previous month and to the best level since 2006. The Median Existing-Home Price was 16% higher than a year ago and up to a record $313K. Retail Sales increased for the 6th straight […]

Shelter Six:  Mortgage Rates Holding Steady

November 16, 2020 by · Leave a Comment

Pfizer’s vaccine report last week caused rates to immediately shoot up .125%, however, this week’s equally optimistic Moderna vaccine report didn’t cause rates to budge. October Consumer Price Inflation figures were just 1.6% higher than a year ago, a little higher than the last few months but still far below 2.3% pre-pandemic readings. Fannie Mae’s […]

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