What Happened This Week In The Housing And Financial Markets

What Happened This Week In The Housing And Financial Markets

                   

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



                                                                                                                                        

For the Week Ending September 22, 2017




                                                          

  The Fed announced they will not raise policy rates this month. However, they did signal a rate hike in                                                        December is likely, as well as 3 more hikes in 2018.

In October, the Fed will also begin reducing their balance sheet by buying fewer bonds. This could adversely affect mortgage rates over time.


The Fed sees near-term risks to the economy as "roughly balanced." Low unemployment and economic expansion are good, but lack of inflation is a concern.




Home builders are slightly less optimistic about the housing market this month. The recent hurricanes are causing worries over labor and materials.
 

 Housing starts were down slightly for the second straight month in August. However, single-family home construction  was up 1.6% from July.


 Existing home sales declined to a 1-year low in August, as inventory continues to be a problem. Areas lacking activity      due to recent hurricanes are also to blame.


To this day, the guy that used to bully me at school still takes my lunch money. On the plus side, he makes a great sub sandwich.


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 can differ from our own and are subject to change at any time.


                                                                                                Information  Courtesy of  

CJ BaxendaleNMLS #564370
Loan Orginator
Gateway Mortgage Group, LLC
(405) 825-0122
 office (405) 626-3700 mobile
2405 Palmer Circle
Suite 200
Norman
OK 73069


Barbara Leatherwood Headshot
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Phone: 405-301-7824
Dated: September 25th 2017
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