Mortgage News

The Markets in a Minute - April 7

For the Week Ending April 7, 2017 Economic activity in the manufacturing sector expanded in March for the 94th consecutive month. The non-manufacturing sector also grew, for the 87th month.Another sign of the improving economy is the strong labor market. This week's jobs data has continued to show new job growth and low unemployment.Minutes from the last Fed meeting show they're looking to reduce asset holdings. The Fed currently holds over $4 trillion in Treasuries and mortgage securities. Home prices appreciated by 1% in February and 7% year-over-year. CoreLogic forecasts h...

April 6th, 2017 The Markets in a Minute - April 7

The Markets in a Minute - March 31

For the Week Ending March 31, 2017 Consumer confidence surged to a 16+-year high in March. Consumer optimism is supported by a strong labor market and a positive economic outlook.The GDP increased 2.1% in the 4th quarter, signaling economic growth. Consumer spending accounts for more than 2/3rds of U.S. economic activity.Some Fed members made comments this week supporting more than 3 rate hikes this year. The majority still favor a gradual approach to increases though. Pending home sales rose 5.5% in February, a 2.6% increase year-over-year. Warm weather and potentially higher intere...

March 30th, 2017 The Markets in a Minute - March 31

Myth busted: Yes, you can buy a house while you’re a student

 One of the biggest misconceptions about homebuying is that you can’t go through the process while in school (e.g.: college).Well, I have good news: That’s not true!Did you know you can claim education as “employment” on a mortgage application? The lender needs to see stable work history, but education can serve in place of a full-time job and often satisfy the requirement.Here are several common questions clients ask me and what I tell them:I am in a graduate school program and will finish in the spring. I have a job lined up post-graduation. Can I get a mortgage?...

March 25th, 2017 Myth busted: Yes, you can buy a house while you’re a student

The Markets in a Minute - March 17

For the Week Ending March 17, 2017 Although the Fed raised policy rates at this week's meeting, mortgage rates improved when the Fed forecasted gradual future increases, calming markets.The Fed's policy rate change will help tame inflation, which has been on the rise. Inflation can be a factor in increasing future mortgage rates.The economy is expected to continue to grow, as supported by recent data. The labor market is strong and consumer confidence is improving. Builder confidence in the housing market hit a 12-year high in March. Builders are anticipating helpful regulato...

March 16th, 2017 | , markets-in-a-minute, The Markets in a Minute - March 17

The Markets in a Minute - March 10

For the Week Ending March 10, 2017 A Fed policy rate hike next week is now almost 100% certain, after recent comments by Fed officials. The Fed anticipates three rate increases in 2017.The Fed's mandate is to keep strong employment and low inflation. Jobs data this week showed the labor market remains strong, with low unemployment.Inflation is on the rise, both in the U.S. and abroad, as the economy continues to grow. Inflation pressures mortgage rates and could contribute to higher rates. Fannie Mae's Home Purchase Sentiment Index for February had five of the six components ...

March 9th, 2017 | markets-in-a-minute, The Markets in a Minute - March 10

The Markets in a Minute - March 3

For the Week Ending March 3, 2017 The idea of a Fed policy rate hike in March has gained steam, with an almost 80% expectation it will happen. Just last week there was only a 30% chance.Consumer spending was down slightly in January, but manufacturing increased. The labor market remains strong, with jobless claims near a 44-year low.Inflation recorded the biggest monthly increase in 4 years in January, raising the probability of a policy rate hike from the Fed this month. Pending home sales were down slightly in January compared to December, blamed on higher mortgage rates and near r...

March 2nd, 2017 | markets-in-a-minute, The Markets in a Minute - March 3

Tidewater Home Funding

Tidewater Home Funding, LLC NMLS# 41552
(www.nmlsconsumeraccess.org).
Equal Housing Lender.

Licensed in Virginia, North Carolina & Florida.

VSCC Bureau of Financial Institutions, P.O. Box 640, Richmond VA 23218-0640, (1-800-552-7945) www.scc.virginia.gov/bfi

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