The Markets In A Minute

June 11th, 2018

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

The Economy

June’s Federal Open Market Committee (FOMC) meeting is next Wednesday. The Fed is widely expected to raise policy rates by 0.250% at this meeting.

Mortgage rates have already factored in a Fed rate increase. However, rates are creeping up after geopolitical tensions in Italy have dissipated.

The European Central Bank also meets next week. If the ECB announces plans to reduce stimulus, rates could be pressured slightly higher.

Housing News

Volatility in mortgage rates from geopolitical tensions helped push rates lower last week. Mortgage purchase applications rose 4.1% week-over-week.

Freddie Mac reports that 46% of first-quarter purchase mortgages were to first-time buyers. This marks the largest share recorded, dating back to 2012.

Homes in lower price ranges are appreciating faster than more expensive homes. Prices rose 9.3% year-over-year for homes priced 75% or less of the median.

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.