Today's Mortgage Minute

Here's what happen this week with mortgage rates and housing.  Mortgage rates moved lower on weaker than expected economic data.  Most concerning is that unemployment rose and job growth fell.   

NOTE TO LISTENER:  Each day, David Lykken produces a one-minute video, called “Today's Mortgage Minute” and it covers what happened with mortgage rates, housing and the economy and, time allowing, he will comment on what is on the economic calendar today that could move mortgage rates either up or down.  This short podcast is the audio version of the daily video known as Today’s Mortgage Minute that appears on hundreds of radio, television and newspaper websites across the United States and can be seen by millions of consumers each month.  David welcomes your feedback in the comment section below.

Rents are now increasing at the fastest rate since the housing crisis in 2007. You think that this would be a motivating factor for those that are renting to buy home. However, the higher rates get the last renters have to say up for a down payment.  This is going to impact the first-time homebuyer.

 

NOTE TO LISTENER:  Each day, David Lykken produces a one-minute video, called “Today's Mortgage Minute” and it covers what happened with mortgage rates, housing and the economy and, time allowing, he will comment on what is on the economic calendar today that could move mortgage rates either up or down.  This short podcast is the audio version of the daily video known as Today’s Mortgage Minute that appears on hundreds of radio, television and newspaper websites across the United States and can be seen by millions of consumers each month.  David welcomes your feedback in the comment section below.  

Today we have the ADP payroll jobs report being issued and it is an indication of job growth in America. The reason we pay attention to this report is that it measures short-term job growth or job contraction within US labor market. Either way, this report as an influence on whether or not the Federal Reserve will raise interest rates.

 

 NOTE TO LISTENER:  Each day, David Lykken produces a one-minute video, called “Today's Mortgage Minute” and it covers what happened with mortgage rates, housing and the economy and, time allowing, he will comment on what is on the economic calendar today that could move mortgage rates either up or down.  This short podcast is the audio version of the daily video known as Today’s Mortgage Minute that appears on hundreds of radio, television and newspaper websites across the United States and can be seen by millions of consumers each month.  David welcomes your feedback in the comment section below.

Good news for mortgage delinquencies. They are now down to the lowest level they been at since June 2008. While we have a little further to do, we are beginning to get close to the pre-housing crisis delinquencies.

NOTE TO LISTENER:  Each day, David Lykken produces a one-minute video, called “Today's Mortgage Minute” and it covers what happened with mortgage rates, housing and the economy and, time allowing, he will comment on what is on the economic calendar today that could move mortgage rates either up or down.  This short podcast is the audio version of the daily video known as Today’s Mortgage Minute that appears on hundreds of radio, television and newspaper websites across the United States and can be seen by millions of consumers each month.  David welcomes your feedback in the comment section below. 

On this week's economic calendar we start off with construction spending on Monday as well as Institute for supply managers index. Then on Wednesday, we received the ADP payroll change report to see the number of net new paychecks issued. We have a number of other manufacturing sector reports as well as jobs and earnings data coming out throughout the week all of which could impact mortgage rates.

 

 NOTE TO LISTENER:  Each day, David Lykken produces a one-minute video, called “Today's Mortgage Minute” and it covers what happened with mortgage rates, housing and the economy and, time allowing, he will comment on what is on the economic calendar today that could move mortgage rates either up or down.  This short podcast is the audio version of the daily video known as Today’s Mortgage Minute that appears on hundreds of radio, television and newspaper websites across the United States and can be seen by millions of consumers each month.  David welcomes your feedback in the comment section below.