The Markets In A Minute

June 6th, 2018

Steve Hollander – Hollander Real Estate
Jackie Doran – Capital Partners Mortgage, LLC

The Economy

First quarter economic growth was solid though slightly lower than expected at 2.2%. An improving economy can pressure rates higher.

Mortgage rates improved as overseas investors took to the safety of U.S. bonds. Political turmoil in Italy was the largest catalyst as their markets crashed.

Consumer spending increased in April, amid rising inflation. Inflation and a strong labor market will likely lead to a Fed rate increase at June’s FOMC meeting.

Housing News

Home price gains may be slowing down as mortgage rates creep up. March prices were unchanged compared to February, according to Case-Shiller.

Even still, values rose 6.5% nationally over last year. Housing prices are now 7.8% above their previous peak during the housing boom of 2006.

Pending home sales fell 1.3% in April compared to March. Most economists blame low inventory rather than slightly higher mortgage rates as the cause.

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.

Jackie Doran

Capital Partners Mortgage, LLC
Loan Officer
NMLS # 364090
Jackie.Doran@CapitalPartnersMtg.com
(561) 716-0448
www.mortgagesbyjackie.com
© 2017 Capital Partners Mortgage, LLC. All Rights Reserved. This communication does not constitute a commitment to lend or the guarantee of a specified interest rate. All loan programs and availability of cash proceeds are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply. Jackie Doran NMLS # 364090, . 11290 Legacy Ave, North Palm Beach, FL 33410. Capital Partners Mortgage, LLC  1515 N. University Drive, Suite 102D, Coral Springs, FL 33071. Corp NMLS# 1084639 (www.nmlsconsumeraccess.com). Equal Housing Lender.