Ladera Ranch Lender | Home Loan Rates
Posted by Scott Admin Bingham on Monday, November 6th, 2017 at 11:46am.
The Fed announced at this week’s meeting that there would be no policy rate hike this month. But, they did however signal a December hike is very likely. Markets have been rallying on the provable nomination of Jerome Powell as the next Fed Chair. He is expected to continue the trend of current Fed policies. The tax reform proposals issued by the House GOP have sparked a steady increase in the stock market. Also, a proposed cut to corporate taxes is expected to fuel the economy.
New home sales surged 18.9% in September to the highest level in 10 years. Home prices hit a new all-time high in August, according to Case-Shiller. National home prices rose 6.1% annually, better than the 5.8% economists expected. Construction spending increased 2.0% year-over-year in September, Month-over-month spending fell for non-residential construction while residential construction remained flat. Despite tight inventory and rising home prices, the home prices, the homeownership rate rose in the 3rd quarter. The 63.9% rate is the highest level since 2014.
Conforming 30 year fixed 4.250%
Conforming 15 year fixed 3.625%
Jumbo 30 year 4.250%
Jumbo 30 year 5/1 ARM 3.750%
FHA 30 year 3.875%
VA 30 year 3.750%
Need a loan preapproval? Give us a call: Diversified Capital Funding
Eric Muller - Mortgage Loan Officer, 925-708-0957, Eric@divcap.net
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