The Markets In A Minute

July 9th, 2018

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

The Economy

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%.

Housing News

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.

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
(561) 716-0448
© 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 ( Equal Housing Lender.