President Trump released his plan for tax reform this week, which is expected to stimulate economic growth. A hotter economy could contribute to higher rates.

Consumer confidence fell slightly in September, despite a strong labor market. The decline is likely temporary and due mainly to Hurricanes Harvey and Irma.

The economy grew a bit faster than previously estimated in the 2nd quarter, with a GDP of 3.1%. Consumer spending was also strong for the 2nd quarter.

Home prices are still on the rise, with Case-Shiller reporting increases of 5.9% in July. Strong demand and tight inventory continue to drive up prices.

New home sales were at an 8-month low in August. Part of the blame can be placed on weather, which held back completion of homes under construction.

Pending home sales were down slightly in August, 2.6% less than July, largely due to low inventory. Demand continues to overwhelm supply in most markets.

Next week’s potential market moving reports are:

• Monday, October 1st: ISM Manufacturing Index, Construction Spending
• Wednesday, October 3rd: MBA Mortgage Applications, ADP Employment Report
• Thursday, October 4th: First Time Jobless Claims, Factory Orders
• Friday, October 5th: National Employment Situation

As your mortgage and real estate professional, I am happy to assist you with any information you may need regarding mortgage or real estate trends. I welcome the opportunity to serve you in any way I possibly can. Please feel free to reach me at (661) 505-4300.

Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. Friendly mortgage brokers make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.

American Family Funding

28368 Constellation Road

Suite 398

Valencia, CA 91355

(661) 284-1150

info@affloans.com

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