KHTS Radio Santa Clarita Radio – Santa Clarita News
The Fed announced at this week’s meeting that there would be no policy rate hike this month. They did however signal a December hike is very likely.
By: Fred Arnold | American Family Funding
Markets have been rallying on the probable nomination of Jerome Powell as the next Fed Chair. Powell is expected to continue the trend of current Fed policies.
The tax reform proposals issued by the House GOP have sparked a stock rally. A proposed cut to corporate taxes is expected to fuel the economy.
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Home prices hit a new all-time high in August, according to Case-Shiller. National home prices rose 6.1% annually, better than the 5.8% economists expected.
Construction spending increased 2.0% year-over-year in September. Month-over-month spending fell for non-residential construction and was unchanged for residential construction.
Despite tight inventory and rising home prices, the homeownership rate rose in the 3rd quarter. The 63.9% rate is the highest level since 2014.
Next week’s potential market moving reports are:
- Tuesday, November 7th: Job Opening and Labor Turnover Survey (JOLTS)
- Wednesday, November 8th: MBA Mortgage Applications
- Thursday, November 9th: First Time Jobless Claims
- Friday, November 10th: 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.
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