Shelter Six:  Labor Market Remains Strong

August 20, 2018 by · Leave a Comment

1. The JOLTS report measures job openings and labor turnover rates.  Fed officials and investors value this data to help assess the strength of the labor market. 2. In June, there were 6.7M job openings, but only 6.6M people who reported that they were looking for work that month.  It is rare to see more […]

Shelter Six:  Surging Home Prices Equal Lower Affordability

August 13, 2018 by · Leave a Comment

1. Inflation is a major factor on interest rates and continues to gradually climb higher.  In July, Core PPI was up 2.7% while Core CPI was up 2.4%, the highest level since Sept 2008. 2. Metro Atlanta home prices have climbed 5.6% over the past year, according to the latest S&P CoreLogic Case-Shiller Index.  Nationally, […]

Shelter Six:  Economy Continues to Be Strong and Add Jobs

August 6, 2018 by · Leave a Comment

1. The economy added 157K new jobs in July and has now gained an average of 215K per month so far this year, up from 184K per month this time last year. 2. The Unemployment Rate decreased from 4% to 3.9%, matching expectations. 3. As expected, the Fed did not increase short-term rates at Wednesday’s […]

Shelter Six:  Home Prices Continue to Surge

July 30, 2018 by · Leave a Comment

1. The Metro Atlanta median sales price surged to an all-time high of $251,250 in June, 7.4% higher than a year ago, according to the AJC. 2. The number of homes listed for sale was down to only a 2.3 months supply in June, down from 2.9 months a year ago, according to the AJC. […]

Shelter Six:  Retail Sales Remain Strong

July 23, 2018 by · Leave a Comment

1. Retail Sales unexpectedly turned negative for 3 months during the winter creating doubts about the strength of the economy. Since then, however, sales have been very strong. 2. June Retail Sales were up .5% from May influencing the Atlanta Fed to bump up the 2nd Quarter GDP forecast to 4.5%, more than double the […]

Shelter Six:  Strong U.S. Economy Only Getting Stronger

July 16, 2018 by · Leave a Comment

1. The U.S. economy continues to be strong and resilient.  Some good info below that is very encouraging that the strength will continue. 2. In a recent interview, Warren Buffet and Jamie Dimon (CEO JP Morgan Chase) said the economy is strong and still has steam.  This quote from Dimon: 3. “Business sentiment is almost […]

Shelter Six:  Economy Still Steaming Ahead

July 9, 2018 by · Leave a Comment

1. The economy added 213K jobs in June, a little more than expected. 2. The economy has averaged 215K new jobs per month this year, up from 182K per month this time last year. 3. The Unemployment Rate now stands at 4%, up from last month’s 18-year low of 3.8%.  The main reason for the […]

Shelter Six:  Looser Mortgage Guidelines Leading to More Home Sales

July 2, 2018 by · Leave a Comment

1. A recent CoreLogic analysis of Conventional loans revealed that looser Fannie Mae / Freddie Mac mortgage guidelines are leading to more loans being approved. 2. As Fannie and Freddie have promoted more 3% down programs, the share of Conventional purchase loans with < 5% down has surged from < 2% in 2014 to 9% […]

Shelter Six:  Home Sales Down Slightly but Inventory Up Slightly

June 25, 2018 by · Leave a Comment

1. May Existing Home Sales decreased slightly from April and were 3% lower than a year ago. 2. National home inventory was up 3% from April to a 4.1-month supply (6 months is considered healthy), but still 6% lower than a year ago. 3. Home builders may be helping to address the shortage of inventory […]

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 […]

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