Kemmer's call

Modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve. While signals from the financial markets are flashing caution signs, the real economy remains on solid ground with steady job growth and five-decade low unemployment rates, which will drive up home sales this summer.
Posted by Kemmer Daniel Matteson on May 21st, 2019 12:18 PM
Purchase mortgage application demand saw the second highest weekly increase over the last year and thanks to a spike in refinancing activity, overall mortgage demand rose to the highest level since the fall of 2016. While the housing market has faced many head winds the last few months, it sailed through the turbulence to calmer seas with demand buttressed by a strong labor market and low mortgage rates. The benefits of the decline in mortgage rates that we’ve seen this year will continue to unfold over the next few months due to the lag from changes in mortgage rates to market sentiment and ultimately home sales.
Posted by Kemmer Daniel Matteson on April 9th, 2019 3:37 PM
While mortgage rates very modestly rose to 4.4% last week, they remain below year-ago levels for the fourth week in a row. In late 2018, mortgage rates rose over a full percentage point from the prior year, which was one of the main reasons for the  weakness in home sales has continued. .

However, the impact of recent lower rates and a strong labor market has led to a rise in purchase mortgage demand as we start the spring home buying season..
Posted by Kemmer Daniel Matteson on March 13th, 2019 4:38 PM

The economy continued to show strong business activity and growth in employment which drove the 30-year fixed mortgage rate to a seven year high of 4.94 percent  on national average– WE are still at 4.75%

Higher mortgage rates have led to a slowdown in national home price growth, and  the price deceleration has been primarily concentrated in affluent coastal markets in California.

If you are in an adjustable rate mortgage  Lock in a fixed rate now.!

Posted by Kemmer Daniel Matteson on November 14th, 2018 12:40 PM
Higher mortgage rates have led to a decline in home sales this year, the weakness has been effected more  expensive segments  along with the limitations on maximum interest and property tax deductions.
The California Association of Realtors (CAR) released its’ housing affordability index for the second quarter of 2018.recently and the combination of increasing housing prices and rising mortgage rates have reduced the home buying affordability in the state to the lowest level in 10-years.
This obviously would mean a drop in price eventually as the market dries up of qualified borrowers..
Posted by Kemmer Daniel Matteson on November 7th, 2018 11:09 AM

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