KHTS Radio Santa Clarita Radio – Santa Clarita News
Stocks continue to hit new highs, driven by optimism over new tax regulations and a spurred economy. The rally is putting pressure on rates to move higher.
By: Fred Arnold | American Family Funding
The European Central Bank is extending their economic stimulus into 2018 but will reduce the amounts. Overall the news was positive for bonds and rates.
The Fed will meet next week for their FOMC meeting. It’s not likely they will raise policy rates next week, but they are expected to do so at the December meeting.
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New home sales surged 18.9% in September to the highest level in 10 years. This was a nice recovery after unexpectedly falling 3.4% in August.
Pending home sales were flat in September though, as demand continued to exceed supply. There are some concerns that winter will further reduce inventory.
Mortgage applications for home purchases were down last week. Economists say rates likely had less to do with the drop than the shortage of homes for sale.
Do you have a news tip? Call us at (661) 298-1220, or drop us a line at community@hometownstation.com.Next week’s potential market moving reports are:
- Monday, October 30th: Personal Income and Outlays
- Tuesday, October 31st: S&P Corelogic Case-Shiller HPI, Consumer Confidence
- Wednesday, November 1st: MBA Mortgage Applications, ADP Employment Report
- Thursday, November 2nd: First Time Jobless Claims
- Friday, November 3rd: National Employment Situation, Factory Orders
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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