Shelter Six:  Another Solid Employment Report

December 10, 2018 by · Leave a Comment

1. Good news for the 2019 real estate market last week as the latest employment figures showed solid gains in both the number of new jobs as well as wage growth. 2. The economy added 155K jobs in November, a little less than the 190K expected.  So far this year, the economy has averaged a […]

Shelter Six:  Conforming Loan Limit Raised to $484,350

December 3, 2018 by · Leave a Comment

1. The Federal Housing Finance Agency (FHFA) has increased Conforming Loan Limits to $484,350 (1-unit), $620,200 (2-unit), $749,650 (3-unit), and $931,600 (4-unit). 2. The Housing and Economic Recovery Act (HERA) requires that loan limits for Fannie Mae and Freddie Mac be adjusted annually to reflect changes in the average U.S. home prices. 3. According to […]

Shelter Six:  Home Inventory and Wage Growth Forecasted to Rise

November 26, 2018 by · Leave a Comment

1. Good news for real estate sales as the Mortgage Bankers Association (MBA) forecasts inventory to expand with gradual increases in the housing supply over the next 2-3 years. 2. The MBA also projects wage growth to accelerate over the next few years, which will help more people be able to qualify at today’s higher […]

Shelter Six:  Wishing You and Yours a Safe and Happy Thanksgiving!

November 19, 2018 by · Leave a Comment

1. There are signs that the global economy is beginning to slow down.  Last week, both Germany and Japan released 3rd Quarter results indicating weakening economies. 2. The end of the rate hikes may be near.  Some investors are now projecting around four more Fed rate hikes this year and next before rate policy turns […]

Shelter Six: Homeownership Rates Continue to Surge

November 12, 2018 by · Leave a Comment

1. As expected, the Federal Reserve held off on raising short-term rates at last week’s policy meeting but left the door open for another rate hike in December. 2. October’s Producer Price Index came in a good bit higher than expected and was 2.9% higher than a year ago. Higher inflation is never good for […]

Shelter Six:  The Economy Added 250K Jobs in October

November 5, 2018 by · Leave a Comment

1. The strong economy just keeps rolling along as evidenced by Friday’s Employment Report, which showed the economy adding 250K jobs in October! 2. The U.S. has now averaged 211K new jobs per month over the past year, while Unemployment has dropped to only 3.7%, the lowest level since 1969. 3. Average Hourly Earnings are […]

Shelter Six:  GDP Remains Strong

October 29, 2018 by · Leave a Comment

1. Gross Domestic Product (GDP), the broadest measure of economic growth, was up a solid 3.5% for the recently completed 3rd Quarter (3.3% expected). 2. GDP was also up a whopping 4.2% during the 2nd Quarter, making for the strongest back-to-back quarters for GDP since 2014. 3. Thursday’s highly anticipated European Central Bank meeting brought […]

Shelter Six:  Home Purchases Predicted to Increase in 2019

October 22, 2018 by · Leave a Comment

1. The Mortgage Bankers Association (MBA) is forecasting that the strong U.S. economy, combined with low unemployment and rising incomes, will lead to a boost in home buying in 2019. 2. The MBA predicted at its Annual Conference last week that 2019 residential purchase mortgage originations will grow 4.2% over 2018 reaching $1.2 Trillion. 3. […]

Shelter Six:  Stock Market Down, Credit Scores Up

October 15, 2018 by · Leave a Comment

1. The Dow Jones stock index plunged more than 1,000 points last week shaking up the financial markets but having only a minor impact on mortgage rates. 2. FICO consumer credit scores continue to surge hitting a record high of 704 last month.  Scores have slowly climbed each year since a low-point of 686 in […]

Shelter Six:  Red Hot Economic Data Pushes Mortgage Rates Higher

October 8, 2018 by · Leave a Comment

The economy continues to fire on all cylinders, which is great news for the future real estate sales, but not so great news for mortgage rates. Last Wednesday, the ISM National Services Index soared to 61.8, which is the highest level recorded since tracking began in 2008. This was followed by Friday’s Employment Report, which […]

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