Mortgage News

The Markets in a Minute - December 30

For the Week Ending December 30, 2016   The markets are quiet this week as traders take the rest of the year off. Very little economic news for the week as the year winds down. The rise in oil prices stalled as U.S. inventories were higher than expected. Increasing oil prices could fuel inflation, which helps drive up interest rates. The labor market appears to be near full strength as jobless claims came in lower than expected. This is the 95th straight week claims were below 300,000. Home prices hit a new high in October, up 5.6% year-over-year. The housing mark...

December 30th, 2016 The Markets in a Minute - December 30

The Markets in a Minute - December 23

For the Week Ending December 23, 2016   The third quarter showed strong economic growth and an increased GDP. As the economy continues to heat up, interest rates will be pressured to rise. Jobless claims were slightly higher this week than expected, but still below 300,000. The strong labor market could contribute to higher rates in 2017. Trading volumes are down as traders take off for the holidays, which could cause volatility. Markets will be closed or close early 4 of the next 7 trading days. Rising mortgage rates haven't slowed down the market, as purchas...

December 23rd, 2016 The Markets in a Minute - December 23

Tidewater Home Funding Holiday Closings

Thank you all for a wonderful 2016, and here's to a great 2017!

December 22nd, 2016 Tidewater Home Funding Holiday Closings

The Markets in a Minute - December 16

For the Week Ending December 16, 2016   As expected, the Fed raised policy rates 0.25% at this month's FOMC meeting. Bond yields jumped on the news, pressuring mortgage rates higher.  The U.S. dollar is at the highest level since 2003, and stocks continue to hit all-time highs. Strong economic activity contributes to mortgage rates increasing. The Fed is expected to continue to raise policy rates in 2017, possibly up to three times. Rising inflation and a tightening job market support this speculation. Rising mortgage rates aren't dampening builders&#...

December 16th, 2016 The Markets in a Minute - December 16

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