Mortgage Update – February 14, 2018


    The Six Most Important Things You Need to Know From the Mortgage World this Week

    ONE

    Last week another government shutdown was averted as the Senate passed a two-year budget deal.

    TWO

    Economic data is the number one reason mortgage interest rates move daily. Rates move in relation to the deviation from expectations.

    THREE

    Last week, the ISM National Services Index came in much higher than expected with one of best readings in over a decade.

    FOUR

    The ongoing strong economic data is continued proof that the economy is healthy, but also the reasons rates keep pushing up a little each week.

    FIVE

    Fannie Mae’s Home Purchase Sentiment Index (HPSI) rose in January to an all-time high. This 100 question survey of 1000 consumers measures expectations of job security, if it is a good time to buy or sell, and if home prices will increase in 2018

    SIX

    Mortgage delinquencies were up slightly in the 4th Qtr of 2017. The increase in the National Delinquency Survey conducted by the Mortgage Bankers Association was attributed primarily to last year’s hurricanes.

     

    RATE UPDATE

    Massive swings in the stock market caused tremendous rate volatility last week. Mortgage rates pushed up for the fifth straight week mostly due to inflation concerns stemming from the budget deal as well as optimistic comments from European central bankers.

    THIS WEEK

    Retail Sales and the Consumer Price Index (CPI) are both due out on Wednesday, Industrial Production on Thursday, and Housing Starts on Friday.

     

    Jim Scheu
    NMLS# #659050 GA #51170

    Senior Loan Officer
    Shelter Home Mortgage
    5780 Windward Pkwy, Suite 100
    Alpharetta, GA 30005

     
    Visit my Website
    Mobile: 404.906.6010
    Fax: 610.629.6369

    If you have questions about your mortgage needs, please contact our preferred mortgage lender – Jim Scheu with Shelter Home Mortgage at 404.906.6010 or click the blue banner just below to send him an email.

    I HAVE QUESTIONS – CONTACT ME TODAY
     
    © 2018 Shelter Home Mortgage, LLC. All Rights Reserved.
    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 credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply. The North Atlanta Team NMLS # 659050 / GA#51170 / Corp. NMLS # 1033, Jim Scheu NMLS # 659050 / GA#51170, Brian Lover NMLS # 997843, GA # 57970. Georgia Residential Mortgage Licensee #56537. 5780 Windward Parkway, Alpharetta, GA 30005. Shelter Home Mortgage, LLC 1770 Indian Trail Lilburn Road NW, Suite 400, Norcross, GA, 30093. Corp NMLS# 1616534 (www.nmlsconsumeraccess.org). Equal Housing Lender.

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