Mortgage rates have consistently crept up a little each week through 2018, hitting 4-year highs. Even still, rates are historically low, which may make it a good time to buy.
The rising bond yields responsible for higher mortgage rates have also shaken up the stock markets. There is a lot of fear that we may see accelerated inflation.
The outlook for 2018 is good for the economy, and the Fed is expected to raise policy rates. It’s likely mortgage rates will increase some more this year.
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Mortgage applications have been on the rise recently despite higher rates. Applications were up 5% last week compared to the same time last year.
Swift price increases and inventory shortages are frustrating renters looking to purchase. Still, 58% of those polled say now is a good time to buy.
Robot open houses? Technology at San Francisco-based Zenplace enables agents to show properties remotely. A live agent speaks through a video monitor and controls the robot’s movements.
Next week’s potential market moving reports are:
Wednesday, February 14th: MBA Applications, Consumer Price Index, Retail Sales
Thursday, February 15th: First Time Jobless Claims, Producer Price Index, Industrial Production, Housing Market Index
Friday, February 16th: Housing Starts, Consumer Sentiment
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.
Do you have a news tip? Call us at (661) 298-1220, or drop us a line at community@hometownstation.com.Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages company, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. Friendly mortgage brokers make the first time home buyer 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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