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 […]

Shelter Six:  Free Credit Report Freeze Coming This Fall

June 11, 2018 by · Leave a Comment

1. Thanks to recent legislation, this September Americans will be able to freeze their credit at all three credit bureaus free of charge. 2. This will be a great way to protect personal information from credit fraud and identity theft thanks to the Economic Growth, Regulatory Relief & Consumer Protection Act signed in May. 3. […]

Shelter Six:  Very Strong May Employment Report

June 4, 2018 by · Leave a Comment

1. The U.S. added a very strong 223K jobs in May, much higher than expected. 2. The U.S. economy has now added an average of 207K jobs per month so far this year. 3. The Unemployment Rate is now down to 3.8%, the lowest level since 2000. 4. Fannie Mae’s Home Purchase Sentiment Index measures […]

Shelter Six:  Regulatory Relief Act Signed Into Law

May 29, 2018 by · Leave a Comment

1. On Thursday, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act into law. 2. This act represents the largest rollback of bank regulations since the financial crisis, improves consumers’ access to credit, and streamlines mortgage TRID requirements. 3. Italy formed a new government last week increasing uncertainty around whether the country […]

Shelter Six:  No Tax Returns Required for Investment Property loan

May 21, 2018 by · Leave a Comment

Shelter’s new SmartVest program allows an experienced real estate investor to buy up to 15 financed investment properties with no income documentation or debt ratio calculation. The qualification on a SmartVest loan is based on a property cash-flow analysis and allows investors to close in the name of an LLC with interest-only loan options. Consumer […]

Shelter Six:  Home Price Appreciation Continues to Surge

May 14, 2018 by · Leave a Comment

1. Metro Atlanta home prices surged 6.5% in February outpacing the national average of 6.3%, according to the latest S&P CoreLogic Case-Shiller Index. 2. March Existing Home Sales were up 1% from February and were about the same as this time last year. 3. March New Home Sales were up 4% from February, were 9% […]

Shelter Six:  Unemployment Drops to 3.9%

May 7, 2018 by · Leave a Comment

1. The economy added 164K jobs in April.  Although 190K were expected, upward revisions added 30K jobs to results for prior months bringing net gains very close to expected levels. 2. The unemployment rate declined from 4.1% to 3.9%, the lowest level since December 2000. 3. The decline in Unemployment was mostly due to workers […]

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