The Weekly Economy & Housing Report

    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!

    Rate Environment

    The Economy

    • Mortgage rates continue to improve as mortgage bonds reach levels not seen since 2017. The outlook remains good that rates could go even lower this year.
    • As U.S. trade tensions have increased, so have concerns about a global economic slowdown, helping mortgage rates remain low.
    • The Fed is starting to signal it is open to easing monetary policy. Recent comments have markets looking for Fed policy rate cuts later this year.

    Housing News

    • Construction spending was flat in April, but home construction spending declined for the 4th straight month.
    • Kitchen remodel expenditures jumped 27% in the past year. The median cost for upgrades was $14,000, according to a survey over 140,000 homeowners.
    • Flipped homes, or homes resold within 12 months after purchase, made up 7.2% of all transactions in the first quarter, the biggest share since the start of 2010.

     


    *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.

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