|For the Week Ending December 1, 2017|
Investor are loving the ever-increasing likelihood that the House and Senate are going to present a new tax plan for the President’s signature before the end of the year. The two biggest drivers of excitement in
Many large national corporations have made promises to the White House that if this plan passes with the lower tax rate, they will invest a significant amount of money into corporate expansion. This in-turn will
As expected, the tax plan is divided down party lines. Most Republicans are for it, while there is not a single Democrat who will vote “yes” for the plan. Currently the House, Senate, and White House are all Republican
Mortgage Loan Limit Changes:
This week Fannie Mae, Freddie Mac, and HUD, all announced they are raising their loan limits based on the data showing average home prices increasing around the country. Depending on where a property is located determines
On Tuesday both the Federal Housing Finance Agency and Case-Shiller released their latest data on home prices. The FHFA Index showed that home prices continued to rise in September at the rate of 0.3 percent. Home
The Corelogic Case-Shiller Home Price Index showed similar findings. This index showed home prices up 0.5 percent, and an increase of 6.2 percent from the prior year.
Both reports show considerable strength in housing. Mortgage application activity for home purchases has remained stable. Refinance applications have declined 8.0 percent with the rise in mortgage rates.
Next week’s potential market moving reports are:
• Monday November 27th – New Home Sales
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
|Third quarter GDP numbers showed the economy grew by 3.3%, in line with expectations. This was the quickest pace of growth in 3 years.|
|The likelihood of tax reform being signed into law by the end of the year is increasing. The tax reform is expected to spur economic growth for 2018.|
|The Fed is expected to raise policy rates this month, but that shouldn’t have much effect on mortgage rates. Markets have already anticipated the rate hike.|
|New home sales in October unexpectedly rose to the highest level in a decade. Single-family home sales rose 6.2% over September, the highest since October
|Home prices rose in September 6.2% over last year and are expected to continue to increase. Prices are rising at the fastest annual rate since June 2014.|
|Pending home sales jumped 3.5% in October. Led by the hurricane stricken South, the growth was more than double what was expected.|
What happens to a frog’s car when it breaks down?
It gets toad away.
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
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