Mortgages & Home

American Family Funding: Housing Market Update 8/14/17

Each week, Santa Clarita home loan lender American Family Funding shares the latest housing market update for your hometown.

For more information on this housing market update, please visit affloans.com.

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The Economy

Producer prices fell in July, recording their biggest drop in 11 months and pointing to lower inflation. The lack of inflation could help keep mortgage rates low.

Related Top 3 Reverse Mortgage Myths Debunked

Geopolitical tensions between the U.S. and North Korea have caused stocks to lose ground. Traders have moved to bonds for safety, helping mortgage rates.

Jobless claims below 300,000 continue to show labor market strength. However, it’s not likely the Fed will raise rates until inflation increases.

Housing News

Mortgage applications rose 3% last week. While refinance apps were up 5%, purchase apps were also up 1% compared to the previous week.

Three projects found to have highest ROI for adding value to a home were: fixing window leaks; remodeling the basement or a bathroom; and better insulating the attic.

Corelogic reports that May’s number of delinquent mortgages was at the lowest level in nearly a decade. Foreclosure inventory was also much lower.

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More News

It has been a while since any vulnerability to the rising stock indices has existed. Economic data continues to remain strong and shows little sign of weakening.

Geopolitical concerns over North Korea’s nuclear capabilities have been taking center stage all week on the news channels and the concerns are starting to show up in investor decisions with more money flowing into the bond market.

The airline industry, which is not known for stellar customer service, is dipping it toes into the water of two-way texting with customers.  Up until now, airlines only offered text communication one-way, from airline to passengers, typically related to gate change announcements and flight schedule changes or delays.

Hawaiian Airlines and Jetblue have begun a service, in the testing phase, that allows passengers to communicate with customer service staff via text.

Passengers can even complain via text. This should be interesting to see what happens in the coming months as the airline industry is notorious for not listening.

This week’s potential market moving reports are:

  • Tuesday August 15th – Housing Market Index
  • Wednesday August 16th – MBA Mortgage Applications, Housing Starts, FOMC Minutes
  • Thursday August 17th – First Time Jobless Claims, Industrial Production
  • Friday August 18th – Consumer Sentiment

Stay tuned each Monday for a housing market update from American Family Funding.

Santa Clarita home loan lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgage lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. Friendly mortgage brokers make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.

American Family Funding

28368 Constellation Road

Suite 398

Valencia, CA 91355

(661) 284-1150

info@affloans.com

Do you have a news tip? Call us at (661) 298-1220, or drop us a line at community@hometownstation.com.

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