For the Week Ending July 6, 2018
Please enjoy this quick update on what happened this week in the housing and financial markets.
Manufacturing activity surged in June, as companies accelerated production in advance of expected tariffs.
Stocks continue to suffer as concerns remain about the effect of tariffs on trading. Apprehension about a trade war isn't helping mortgage rates much either.
The labor market appears to be near full strength, even as weekly jobless claims were up last week. The jobless rate is at an 18-year low of 3.8%.
Overall construction spending was up 4.5% year-over-year in June and 0.4% over May. For residential construction, spending was up 0.8%.
Single-family home construction spending was up 8.2% in June over the previous year. Multi-family housing spending was also up 4.2% year-over-year.
Millennials really do want to be homeowners. In a recent survey, 36% of the 500 respondents reported taking a second job to save for a down payment.
I used to be a banker, but then I lost interest.
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:
There's lots of economic and housing news this week. Plus, find out what millennials are doing to purchase a home. 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 2019. Learn More - Up to $726,525 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.
Residential Mortgage Lender registered by the CA 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 2020 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.