By Juan Gonzales
Please enjoy this quick update on what happened this week in the housing and financial markets.
Minutes from last month's Fed meeting showed the Fed is concerned about global economic weakness. This concern makes a policy rate increase in April unlikely.
Recent economic reports show tepid economic growth, keeping inflation concerns at bay. Lack of inflation helps support conditions for low mortgage rates.
Even with the tepid economy, the labor market continues to show strength. Last week's unemployment claims fell more than expected, slipping to 270,000.
Smart home technology can make outdated homes more desirable. Nearly 1/2 of Americans surveyed either have or plan to install smart home tech this year.
The recent dip in mortgage rates has helped move some buyers off of the fence. Purchase applications were 11% higher than the same week last year.
Annual owner-occupied purchases were up 15.9% in 2015. The 3.74 million purchases were the most seen since 2007's 3.93 million.
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.
The Juan Gonzales Mortgage Team
Neighborhood Mortgage, Inc
Senior Loan Officer
NMLS #1001339
(678) 990-8774
[email protected]
www.nloans.net/juan
Tatyana is Lithuanian born graduate of Vilnius University Law School where she successfully practiced law, and created a widely read European Fashion Magazine. In the United States, since becoming a citizen, Tatyana has been a successful Commercial and Mortgage Lender at Bank of America, a licensed Financial Advisor, and the founder of The Georgia Commerce Club which is the largest privately owned chamber in the Nation. As a Real Estate Agent she brings her marketing and networking skills and some European Style and Fashion to help her clients find their perfect home.
