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 […]

Shelter Six:  Mortgage Delinquencies at Historically Low Levels

September 2, 2019 by · Leave a Comment

Trade negotiations between the U.S. and China took a turn for the friendlier last week as both sides expressed more willingness to work with each other. For the fifth straight month, inflation was lower than the Fed’s stated target level of 2% as the July Core PCE Price Index came in just 1.6% higher than […]

Shelter Six:  Fed Chairman Hints at Future Rate Cuts

August 25, 2019 by · Leave a Comment

Speaking from the Jackson Hole Global Economic Summit last week, Fed Chairman Jerome Powell said that the Fed will “act as appropriate to sustain the expansion.” Powell noted the biggest risks to economic growth include trade tensions, slowing global economic activity, political unrest in Hong Kong, Brexit, and Italian elections. Powell hinted that the Fed […]

Shelter Six:  FHA Issues More Liberal Condo Eligibility Rules

August 19, 2019 by · Leave a Comment

FHA released new, more liberal condo approval rules last week, which are drastically needed as only 6.5% of 150K+ condo projects in the U.S. are currently FHA approved. The old FHA rules were very restrictive because of the extremely cumbersome process that forced condo communities to submit a pile of paperwork that was thoroughly scrutinized. […]

Shelter Six:  Mortgage Rates Fall to the Lowest Point in Nearly 3 Years

August 12, 2019 by · Leave a Comment

The financial markets went on a wild roller-coaster ride last week after China retaliated to higher U.S. tariffs by allowing its currency to weaken. Initially, there was a massive stock sell-off as money transferred into the safer U.S. bond market, which caused mortgage rates to drop to the lowest level in nearly three years. As […]

Shelter Six:  Trade Tension with China Leads to Lower Rates

August 5, 2019 by · Leave a Comment

In an effort to curb a further slowdown in the economy, the Federal Reserve cut short-term rates as expected by .25% last week, the first reduction since 2008. Comments from Fed Chair Powell after the meeting, however, made investors question if this was a one-time cut rather than part of a series of cuts. The […]

Shelter Six:  Federal Reserve Expected to Cut Rates on Wednesday

July 29, 2019 by · Leave a Comment

Statements from key Fed members suggest there will be a .25% interest-rate cut at Wednesday’s Fed meeting. Just three months ago, none of the Fed’s17 members predicted lower rates in 2019, yet rates are about to be cut despite a strong labor market, massive consumer spending, and a surging stock market. The main catalyst for […]

Shelter Six:  Rate Cut Coming Despite Strong Economic Data

July 22, 2019 by · Leave a Comment

Comments from Federal Reserve officials have left the markets expecting a .25% rate cut on July 31 and possibly another .25% before the end of the year. Last week brought three reports showing the economy doing quite well.  June Retail Sales were up a solid .4% from May and have been unusually stable over the […]

Shelter Six:  Fed Chairman Confirms Rate Cut Coming

July 12, 2019 by · Leave a Comment

Twice a year, the head of the Federal Reserve provides an update to Congress and then answers questions. During last week’s testimony, Fed Chair Jerome Powell reinforced recent investor outlook that the Fed will cut rates at the next meeting on July 31. The main reasons Powell gave for the eminent rate cut were slowing […]

Next Page »