Rod and I are pleased to bring you a weekly report on the mortgage and housing industry, as well as the economy. Weekly we will publish the following report from CoreLogic as a courtesy to you. For more detailed statistics about Utah real estate markets, look for our real estate market updates weekly!
- Tweets by President Trump reignited investor concerns over the trade talks with China. Stocks dropped from recent highs as investors’ anxiety increased.
- Although the trade dispute with China has not directly helped mortgage rates, newly proposed tariffs could hamper global economic growth, helping rates.
- Low inflation has offset strong employment, helping keep rates low. Although lots of jobs are being created, wages aren’t rising fast enough to cause inflation.
- A remodeling labor shortage continues to delay housing projects, according to NAHB. The highest demand is for carpenters, bricklayers, and electricians.
- Homeowners are showing more love for their front yards in a recent trend, carving out spots in lawns and front porches to mingle with neighbors and relax.
- High home prices and strong demand have today’s youngest homebuyers pouring into smaller cities where prices are generally more affordable.
*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.