MORTGAGE MARKET GUIDE Monthly – Views You Can Use August 2016 Issue
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MORTGAGE MARKET GUIDE Monthly – Views You Can Use August 2016 Issue
IN THIS ISSUE… |
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“Why must we always ride a divided highway?” Doobie Brothers. While the housing sector continues to cruise along nicely, there are still some bumps in the road elsewhere. We’ll roll up our sleeves to cover this story and more, including:
Please feel free to forward this newsletter to friends, family or co-workers who may find it helpful. |
Housing Brings the Heat |
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Framing the Future Jobs and Wages Slow Unemployment ticked up to 4.9 percent, and average hourly earnings rose by a modest 0.1 percent. The good news is hourly wages did increase 2.6 percent from this time last year, matching the highest level of the recovery since 2009. What the Fed Said In general, when economic data is weak, or there is uncertainty overseas like Britain’s recent decision to exit the European Union, investors tend to move money out of riskier investments like Stocks and into Bonds. And because home loan rates are tied to Mortgage Bonds, when Mortgage Bonds improve home loan rates often follow. The bottom line is that home loan rates remain near historic lows. If you have any questions about housing or home loan rates, or if you’d like to discuss your unique situation, please call or email today. |
What to Watch: Consumer Price Index (CPI) |
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Here’s what you need to know. What is the Consumer Price Index (CPI) report? The CPI averages price changes on a predetermined basket of goods including transportation, rent, food, energy and medical care. The report is used to assess price changes associated with the cost of living. What’s happened recently? Economic data showed that June Core CPI, which strips out more volatile food and energy prices, rose by 2.3 percent year-over-year, which is the hottest year-over-year rate since the start of the financial crisis back in 2008. What’s the bottom line? While inflation has not been an issue in nearly a decade, should it finally come to roost, home loan rates could go higher despite other Bond-friendly factors like the Brexit uncertainty and global economic weakness. This is because inflation reduces the value of fixed investments like Bonds, and home loan rates are tied to Mortgage Bonds. I’ll continue to monitor inflation reports closely, but if you have any immediate questions, please call or email today. |
Teaching Kids Financial Responsibility |
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Pay an Allowance
Teach About Savings Lessons for Shopping and Credit Once your kids have a sense of money matters, you may want to take the lesson up a notch. For instance, when your children need new school clothes, test giving them the money (or a store gift card) and put them in charge of what they buy. As they shop, gently help them compare the prices and number of items they can purchase within their budget. This will help them not only learn about making smart purchases, but also introduce them to the credit card system, in which money may not seem real because it’s unseen. In today’s electronic financial world, this lesson will become more and more important as your children get older. At times your children may beg for an exception. But by being consistent with these lessons, kids are better prepared to deal with common financial situations when they grow up. |
Q&A: Removing Paint From Skin |
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QUESTION: How do I remove dried paint from my skin and hair?
ANSWER: Painting can be a popular home project during warmer months. And even the most careful painters can get a little paint on their skin or in their hair. The good news is there’s no need to clean the paint with irritating solvents or harsh chemicals. First, wash with soap and water. Then choose your paint problem:
Sources: BottomLine, wikiHow |
Questions, Comments or For more information you can contact Christian Penner at: Call/Text: (561) 373-0987 or visit us online at www.ChristianPenner.com
The Christian Penner Mortgage Team, A Branch of
American Financial Network, Inc
CORP NMLS# 237341 ; Equal Opportunity Employer ; Equal Opportunity Lender American Financial Network, Inc. 10 Pointe Drive, Suite 330, Brea, CA 92821.
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