Each week, Santa Clarita mortgages lender American Family Funding shares the latest housing market update for your hometown.
For more information on about Santa Clarita mortgages, please contact American Family Funding at affloans.com.
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Central bankers from around the world are meeting this week for the Jackson Hole Symposium. Markets will be looking for signs of imminent policy changes.
Very little economic news this week along with low trading volume has left markets quiet. This environment has helped to keep mortgage rates stable.
Despite labor market strength, low inflation remains a concern. Speculation is the Fed cannot raise rates again this year unless inflation rises to around 2%.
New home sales were unexpectedly lower for July, down 9.4% from June. July’s sales were a 7-month low and caused some concerns about the housing market.
However, before anyone panics, it should be noted that May and June numbers were revised higher. Median new home prices were up 6.3% over last year.
Inventory of new homes rose 1.5% last month, the highest level since June 2009. Even still, a shortage of new and existing home inventory remains an issue.
Next week’s potential market moving reports are:
Monday, August 28 • Dallas Fed Manufacturing Survey
Tuesday, August 29 • S&P Corelogic Case-Shiller HPI, Consumer Confidence
Wednesday, August 30 • MBA Mortgage Applications, ADP Employment Report
Thursday, August 31 • First Time Jobless Claims, Pending Home Sales
Friday, September 1 • National Employment, Construction Spending, ISM Mfg Index
Stay tuned each week for a housing market update from Santa Clarita mortgages lender American Family Funding.
Ed. Note: This housing market update was provided by American Family Funding, a leader in Santa Clarita mortgages.
Santa Clarita mortgages 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
Valencia, CA 91355