For the Week Ending May 26, 2017
Please enjoy this quick update on what happened this week in the housing and financial markets.
Minutes released from the Fed's May FOMC meeting support a possible policy rate hike in June. However, chances of a September rate hike went down.
Recent economic data has been mixed. Signs of a dip in consumer sentiment and spending are offset by continued strengthening in the job market.
The 4-week average of continuing jobless claims decreased between the April and May survey weeks. The average is at the lowest level since January 1974.
New home sales were down in May from April's 9-1/2-year high, but the housing recovery is intact. Demand is still strong, and inventory remains tight.
Existing home sales fell in April, weighed down by a chronic shortage of inventory. However, home prices increased 6% year-over-year in April.
Low inventory pushed time on market to new lows in April. The average number of days on the market was 29, lower than last May's record of 32 days.
A broker was dismayed when a brand new real estate office much like her own opened next door and put up a huge sign that said, "BEST AGENTS."
She was horrified when another competitor opened on the other side and put up an even larger sign saying, "LOWEST COMMISSIONS."
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:
Check out this week's housing and economic news. It will only take a minute!
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.
We proudly offer a full array of Government, Conventional, and Jumbo loan Options including FHA, VA, USDA, FHA Jumbo, VA Jumbo, VA Refinance, Conventional, Jumbo, VA Condo loans, FHA 2-4 Unit Loans, VA 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 2018. Learn More - Up to $679,650 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!
We serve the entire state of California including: Anaheim, Antioch, Bakersfield, Brentwood, Burbank, Carlsbad, Chula Vista, Corona, Coronado, Downtown San Diego, Encinitas, Escondido, Fallbrook, Fremont, Fresno, Hermosa Beach, Huntington Beach, Irvine, Long Beach, Los Angeles, Marina Del Rey, Menifee, Monterey, Murrieta, Oakland, Oakley, Oceanside, Ontario, Pasadena , Poway, Rancho Cucamonga, Redlands, Riverside, Sacramento, San Bernardino, San Diego, San Francisco, San Jose, San Marcos, San Mateo, Santa Ana, Santa Clarita, Santa Monica, Temecula, 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.
All information is subject to change without notice.
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
copyright 2018 VanDyk Mortgage Corp
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.