For the Week Ending October 24, 2014
 

Please enjoy this quick update on what’s happening this week in the housing and financial markets.



Two key measures show strength in the industrial sector. Production is up, and manufacturing is solid. Good economic news can be bad for rates.

October consumer sentiment is at a recovery high. Stronger jobs and lower gas prices get credit for the boost. High confidence could mean more home buyers.

The Consumer Price Index, a measure of inflation, is up marginally. Still below the Fed's 2% target, low inflation supports a delay in Fed rate increases.

September sales of both new and existing homes were improved over August's numbers. Existing sales hit a one-year high, despite the usual September decline.

First time buyers still account for just under one-third of the market. Economists would like to see first-timers at about 40%.

Interest rates recently hit the year's low. Lower rates can improve affordability for buyers who take action now.


A party of economists was climbing in the Alps. After several hours they became hopelessly lost. One of them studied the map for some time, turning it up and down, sighting on distant landmarks, consulting his compass, and finally the sun. 

At last, he said, "Okay, see that big mountain over there?" 

"Yes," answered the others eagerly. 

"Well, according to the map, we're standing on top of it."


 

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Special Thanks to and courtesy of:


Roy Loo
Wholesale Capital Corporation
Sr. Loan Officer
NMLS 247485 BRE 01863760
(951) 488-3149
rloo@wccloans.com