Inside Lending, by Matt Shuler
September 17, 2018
Brought to you by Matt Shuler |
DID YOU KNOW?... PropertyShark reports 83% of Generation Z (born1995 to 2010) plans to buy a home in the next five years and get this: the 'Instagram Generation' would sacrifice location and commuting distance for size and amenities. |
THIS WEEK'S FORECAST |
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NEW HOMES GOING UP, EXISTING HOMES SELLING... August Housing Starts are expected to shoot past a 1.2 million annual rate. Existing Home Sales should also spring back to a 5.37 million yearly pace. NOTE: Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and higher loan rates. |
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MARKET UPDATE |
Black Knight reports that in Q2 this year, tappable equity for homeowners with mortgages passed $6 trillion for the first time in history. And this happened even with the recent slowdown in home price growth. Freddie Mac's chief economist thinks the "spectacular stretch of solid job gains and low unemployment should help keep homebuyer interest elevated. However, mortgage rates will likely also move up." This doesn't worry the chief economist at a large regional real estate firm, since "low unemployment rates encourage employers to raise wages," which can cover higher loan costs. He also sees "more homes coming on the market." |
Matt Shuler Office: 813.324.2158 |