The Six Most Important Things You Need to Know From the Mortgage World this Week.
Retail Sales have been very strong this year but were much lower than anticipated in July, despite strong car sales.
Consumer spending accounts for about 70% of U.S. economic output, so the Retails Sales figure is critical to the economy.
Retail Sales were one of the bright spots for the economy in the 2nd Quarter, so investors will be watching this very closely throughout the fall.
Foreclosure inventory declined yet again in June to the lowest rate since August 2007 and are down 19% over a year ago.
The median existing single-family home price increased in 83% of measured markets in the 2nd Quarter.
Supply levels continue to hold back real estate sales. National listing inventory is hovering around 4.7 months.
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The material is intended for licensed mortgage professionals only and is not an extension of credit. Information contained in this document is subject to change without notification. ©2016 Shelter Lending Services, LLC is an Equal Housing Opportunity Lender. NMLS#1033753 (www.nmlsconsumeraccess.org). This communication does not constitute a commitment to lend or the guarantee of a specified interest rate. All loan programs and availability of cash proceeds are subject to underwriting and property approval. 695 Mansell Road Suite 200, Roswell, GA 30076. James Williamson NMLS# 552530, AL:#59117, GA:#36174, TN:#120865. Georgia Residential Mortgage Licensee # 38779.