Economic Market News

Inventory of homes for sale increased

Laura Borja presents- The Markets in a minute

July 13, 2017 : Inventory of Homes for Sale

This week’s Markets In A Minute: Inventory of homes for sale increased but what about inflation?

Markets In A Minute

Prefer video? Find out what happened in the markets here:The Markets In A Minute

The Economy

  • Consumer prices barely rose in June, but the underlying trend points to inflation. Rising inflation will likely lead to more Fed rate increases and higher rates.
  • Producer prices rose more than expected in June, another factor pointing to inflation. This jump was the largest annual increase in 6-1/2 years.
  • Although trade war concerns have escalated, there’s not a lot of fear that this will hurt the economy. In the meantime, mortgage rates have remained stable.

Housing news by Laura Borja

  • Homeowners have an estimated $5.8 trillion in accessible equity, the highest ever recorded. Despite this, fewer owners are taking cash out than in previous eras.
  • Inventory remains tight, but could loosen up a bit in the near future. Inventory increased 12.2% in the 2nd quarter, the biggest gain since early 2015..
  • Although refinance applications were down last week, purchase applications rose 7% for the week and were 8% higher than the same week a year ago.

 

The Last Laugh
What does Jason Vorhees have for dessert on Friday the 13th?

I-Scream.

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Wondering how changing interest rates and home prices might affect your budget?

Find out with this interactive calculator:   https://mysdlender.com/24t7psI

Ready to get started with the loan approval process?

Get Pre-Approved

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Leave a Reply

Your email address will not be published. Required fields are marked *