Mortgage Update – February 7, 2018


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

    ONE

    Mortgage rates continue to surge in 2018 out of concerns over inflation pushing above targeted levels due to a growing economy fueled by recent tax cuts.

    TWO

    Another reason rates are trending higher is simply less potential demand for bonds if the U.S. budget deficit grows and both China and Europe buy less.

    THREE

    Friday’s Employment Report came in mostly as expected but annual wage growth was well above the consensus forecast, adding to the recent inflationary concerns.

    FOUR

    Home Sales finished 2017 at the highest level since 2006 despite inventory being at only a 3.2 month supply, the lowest since tracking began in 1999.

    FIVE

    The Fed, meeting for the last time last week under the leadership of Janet Yellen, left rates unchanged setting the stage for an increase in March under her successor Jerome Powell.

    SIX

    Powell is being officially sworn in this week as speculation grows that the Fed may pick up the pace of future rate hikes, which have been bumped up five times since late 2015.

     

    RATE UPDATE

    News that the European Central Bank may end its bond repurchase program along with strong wage growth data led to a jump in rates to the highest level in four years.

    THIS WEEK

    The ISM National Services Index is due out on Monday with the JOLT Survey due out on Tuesday. Investors will also be watching to see if an agreement is reached to fund the government past Feb 8.

     

    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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