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Weekly Mortgage Market Update for June 23, 2017

 

For the Week Ending June 23, 2017

 

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

 

Crude oil prices have plummeted this week, which helps to curb inflation concerns. A lack of inflation helps keep mortgage rates low.

Although the economic outlook continues to improve, consumers are showing signs of declining confidence in their personal finances and may spend less.

Jobless claims were up slightly this week, hitting 241,000. In a sign of labor market strength though, this is the 120th week claims were below 300,000.

 

Nationwide, properties stayed on the market for a median of just 27 days in May. This was the shortest timeframe since NAR began tracking the data in 2011.

Existing home sales rose 1.1% month-over-month in May to 5.62 million. Existing home sales are now 2.7% higher than a year ago.

Inventory shortages continue to push home prices to new highs. The median existing home price was $252,800 in May, passing last June's peak of $247,600.

 

 

The older generation's dream was to pay off the mortgage. The younger generation's dream is to qualify for one.

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends candiffer from our own and are subject to change at any time.

 

 

Here is the Video version of this information: 

How can inflation remain low while prices rise? Depends on what prices are rising. Learn more about it here:

Learn more about both in this week's Markets in a Minute:

 

If you have any questions on the market, loan qualification, or just want to get started on your loan, click the button below to get started online, or give me a call at 866-900-2342 toll free direct. 

Fast Forward Approval - the Smartest Way to get Pre-Approved

 

 

 

Government Loan Pros- VA FHA USDA FHA Jumbo VA Jumbo 203K

 

We proudly offer a full array of Government Conventional, and Jumbo loan Options including FHAVAUSDAFHA JumboVA Jumbo, VA Refinance, Conventional, JumboVA Condo loans,   FHA 2-4 Unit LoansVA 2-4 Unit Loans, FHA 203K Rehab Loans,  5% down Conventional loans Conventional Condo's OK to 95%,  95% conventional purchase with ZERO Monthly PMI, and more.  

 

Veterans:  We are able to help Veterans with a new home purchase with a VA Loan or VA Jumbo Loan as soon as 2 years after Bankruptcy, Foreclosure, or Short Sale (even sooner if Short Sale involved no late payments).  Call Today - get back into homeownership!  

 

--> VA Loan Limits for 2016.  Learn More - Up to $625,500 with zero money down VA Jumbo Loan 

 

--> VA Loans over the County VA Loan Limit - yes, we allow this:   Read more detail on how to get a VA Loan Over your County VA Loan Limit here  VA Loans up to $1.5M!

 

--> Answers to Common VA Loan Questions - VA FAQ Series

We serve the entire state of California  including: Anaheim,  Antioch,  Bakersfield, Brentwood, Burbank,  Carlsbad,   Chula VistaCorona,  Coronado, Downtown San Diego, EncinitasEscondido, Fallbrook,  Fremont,  FresnoHermosa Beach, Huntington BeachIrvineLong BeachLos Angeles, Marina Del Rey,   Menifee, Monterey, MurrietaOakland, Oakley,  Oceanside,  Ontario,  Pasadena ,  Poway,   Rancho Cucamonga,  Redlands,   Riverside,   Sacramento,        San BernardinoSan DiegoSan FranciscoSan JoseSan MarcosSan MateoSanta Ana,  Santa Clarita,   Santa MonicaTemecula, Torrance, Ventura, Vista, and all other CA Cities and areas.

 

We now serve the entire state of Virginia including Virginia Beach, Norfolk, Chesapeake, Richmond, Newport News, Alexandria, Hampton, Roanoke, Portsmouth, Suffolk, and all other Virginia Cities, Towns and Counties. 

 

We also serve the entire state of  Washington including:  Auburn, Bellevue, Bellingham, Bonney Lake, Bothell, Bremerton, Des Moines, Edmonds, Everett, Federal Way, Ferndale, Issaquah, Kent, Kirkland, Lacey, Lake Stevens, Lynnwood, Mercer Island,  Mill Creek, Monroe,  Montlake Terrace, Mt Vernon, Mukilteo, Olympia, Puyallup, Redmond, Renton, Seatac, Seattle, Silver Lake, Snohomish, Spokane, Sumner, Tacoma, Tumwater, Vancouver, Wenatchee, Woodinville, Yakima and all other WA cities and towns. 

 

We also serve Colorado, GeorgiaMassachusetts, Michigan, Mississippi,  Indiana, Tennessee, Texas, and Wyoming Homebuyers and Homeowners.  

 

VA Loan Limits 2016     FHA Loan Limits 2016     Conforming Loan Limits 2016

All information is subject to change without notice.

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State of NY Disclosure    TX Disclosure    General Disclosure

 

Residentional Mortgage Lender registered by the VA Department of Business Oversight

Georgia Residential Mortgage Licensee #39449

VanDyk Mortgage is a private company specializing in FHA & VA financing,  VanDyk Mortgage Corp is not a government agency. Corp 2449 Camelot Ct SE, Grand Rapids, MI 49546 

 

Branch address  310 Via Vera Cruz, ste 210 & 211, San Marcos, CA  92078  760-752-4480 direct

NMLS ID:  3035 - VanDyk Mortgage Corp   NMLS ID  220268  

Brian Skaar - Loan Originator / Branch Manager   

 

NY Disclosure:  Website authorization has not been approved by teh New York State Department of Financial Services.   Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. 

 

Fast Forward Approval - the Smartest Way to get Pre-Approved

 

 

 

 

 

 

 


 

 

Comment balloon 0 commentsBrian Skaar • June 24 2017 05:37PM
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