It probably doesn’t mean much to the Atlanta Falcons at this point, but the new year is off to a strong start, at least as far as jobs are concerned. According to the most recent stats from the US Bureau of Labor, jobs are up, particularly in construction. This is 76 straight months of job growth, with January evidencing a…
According to the Fed, due to weaker than expected gross domestic product returns, the Fed rate will remain unchanged. In other words, because they don’t see what they would like to see, rather than increase rates, they decided to tap the brakes and evaluate the situation. Umm, where did I hear that before? Seems like the prudent thing to do.…
Mortgage applications declined in last week by 3.2%, an 18% decline from the same period last year. According to some reporters, this decline is the direct result of President Trump’s decision to suspend the FHA annual premium rate cut announced by FHA just prior to his inauguration. (Applications) Get real… Yes, applications are down, and yes, somewhat because of the…
Well, it happened. As some have been forecasting a stock market crash, the DOW broke the 20,000 mark on Wednesday, showing continued strength. Whether from the “Trump Bump” or not, things are looking up for the markets. What does that mean for mortgage rates and mortgage lending? Not all outlooks are so rosy. If rates continue to rise it may…
The MBA’s Mortgage Credit Availability Index (MCAI) increased for the fourth consecutive month in December. The MCIA is a barometer on the availability of mortgage credit using certain guidelines from institutional mortgage purchasers. With a base of 100, the higher the index value the more available the credit. A lower value indicates a tightening of mortgage credit standards. The MCAI…
Looking back, non-bank mortgage lenders increased hiring in September, adding 2200 full-time employees to their payrolls. That’s a big jump from the 900 additions in August. These new employees were all part of an overall rise in September employment to 315,000 new jobs, the highest increase since 2008. Looks as though things may be looking up after all. Strange though…
