« Return to Blogs

Mortgage Market Guide: Home Sales Keep on Slipping

  Send to a Friend Follow Me On:

Christian Penner,#ChristianPenner, Christian Penner Home Loan Company,#ChristianPennerHomeLoanCompany, Current Mortgage Rates,#CurrentMortgageRates, FHA loan,#FHAloan, FHA loans,#FHAloans, FHA Mortgage Financing Specialist,#FHAMortgageFinancingSpecialist, FHA Mortgage Lenders,#FHAMortgageLenders, FHA VA Financing Specialist,#FHAVAFinancingSpecialist, Harp Refinance,#HarpRefinance, Home Finance Mortgage,#HomeFinanceMortgage, Home Loan,#HomeLoan, Home Loan Company,#HomeLoanCompany, Home Mortgage,#HomeMortgage, Home Mortgage New,#HomeMortgageNew, Lenders Mortgage,#LendersMortgage, Mortgage,#Mortgage, Mortgage Banker,#MortgageBanker, Mortgage Banker West Palm Beach,#MortgageBankerWestPalmBeach, Mortgage Broker,#MortgageBroker, Mortgage Broker Florida,#MortgageBrokerFlorida, Mortgage Broker West Palm Beach,#MortgageBrokerWestPalmBeach, Mortgage Broker West Palm Beach,#MortgageBrokerWestPalmBeach, Mortgage Brokers,#MortgageBrokers, Mortgage Brokers West Palm Beach,#MortgageBrokersWestPalmBeach, Mortgage Companies,#MortgageCompanies, Mortgage Company,#MortgageCompany, Mortgage Lender West Palm Beach,#MortgageLenderWestPalmBeach, Mortgage Lender West Palm Beach,#MortgageLenderWestPalmBeach, Mortgage Lenders,#MortgageLenders, Mortgage Loan Lender,#MortgageLoanLender, Mortgage Loan Lenders,#MortgageLoanLenders, Mortgage Loans,#MortgageLoans, Mortgage Rate,#MortgageRate, Mortgage West,#MortgageWest, Palm Beach Mortgage Broker,#PalmBeachMortgageBroker, Palm Beach Mortgage Broker,#PalmBeachMortgageBroker, Palm Beach Mortgage Company,#PalmBeachMortgageCompany, Real Estate,#RealEstate, Real Estate,#RealEstate, Real Estate Home,#RealEstateHome, Real Estate Home,#RealEstateHome, Real Estate West Palm Beach,#RealEstateWestPalmBeach, Realtor,#Realtor, Realtor West Palm Beach,#RealtorWestPalmBeach, Refinance,#Refinance, Refinance A Mortgage,#RefinanceAMortgage, Refinance Home Loans,#RefinanceHomeLoans, Refinance Mortgage Lenders,#RefinanceMortgageLenders, VA Financing Specialist,#VAFinancingSpecialist, VA Home Loan Expert,#VAHomeLoanExpert, VA Home Loans,#VAHomeLoans,

Mortgage Market Guide: Home Sales Keep on Slipping

  In This Issue  
     
 
Last Week in Review: New and Existing Home Sales slipped in July.

Forecast for the Week: Job growth and inflation take lead roles in an ensemble of economic players.

View: Maximize your marketing response.

 
     
 
Last Week in Review  
     
 
“Time keeps on slippin’, slippin’, slippin’.” Steve Miller Band. While prospective homebuyers want to move through the process of getting into their dream home, that reality keeps slipping due, in part, to limited inventory.

After a strong start to summer, New Home Sales took a dive in July. The Commerce Department reported July New Home Sales fell by 9.4 percent from June to an annualized rate of 571,000 units, below the 615,000 expected and a seven-month low. On a positive note, June was revised higher to 630,000 units from 610,000. Sales inventory for new homes rose to 5.8 months in July, up from 5.2 months in June; this is near the healthy rate of six months. Year over year, sales were down nearly 9 percent.

Existing Home Sales in July slipped for the second straight month as large declines in the Northeast and Midwest outweighed sales increases in the South and West, according to the National Association of REALTORS® (NAR). Total Existing Home Sales slipped 1.3 percent in July to 5.44 million units from a downwardly-revised 5.51 million in June. Although July’s sales pace is 2.1 percent above a year ago, it is the lowest of 2017. Total existing housing inventory at the end of July declined 1.0 percent to a 4.2-month supply and is now 9.0 percent lower than a year ago.

Lawrence Yun, NAR chief economist, said, “Buyer interest in most of the country has held up strongly this summer and homes are selling fast, but the negative effect of not enough inventory to choose from and its pressure on overall affordability put the brakes on what should’ve been a higher sales pace.”

While limited inventory may be a pain point in the homebuying process, the good news is home loan rates are still near record lows.

Also of note, prominent central bankers, finance ministers, academics and financial market participants from around the world were at the annual Jackson Hole, Wyoming Symposium to discuss global economic issues. Fed Chair Janet Yellen spoke on Friday morning and didn’t make any big comments on monetary policy or the Fed’s balance sheet.

If you or someone you know has questions about home loan products or current rates please contact me. I’d be happy to help.

 
     
 
Forecast for the Week  
     
 
Job data and inflation are the stars of the week.
  • The packed economic calendar begins on Tuesday with Consumer Confidence, followed by the Consumer Sentiment Index on Friday.
  • On Wednesday, the second reading of Q2 Gross Domestic Product will be released.
  • Look for inflation news Thursday via Personal Consumption Expenditures, along with Personal Income and Personal Spending.
  • Also on Thursday, Pending Home Sales will be released.
  • Manufacturing data comes from Thursday’s Chicago PMI and Friday’s ISM Index.
  • Employment data is plentiful, starting with the ADP National Employment Report on Wednesday, weekly Initial Jobless Claims on Thursday, and Friday’s highly anticipated Jobs Report for August, which includes Non-Farm Payrolls, Hourly Earnings, Average Workweek and the Unemployment Rate.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. In contrast, strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based.

When you see these Bond prices moving higher, it means home loan rates are improving. When Bond prices are moving lower, home loan rates are getting worse.

To go one step further, a red “candle” means that MBS worsened during the day, while a green “candle” means MBS improved during the day. Depending on how dramatic the changes are on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.

As you can see in the chart below, Mortgage Bond prices have traded in a pretty tight pattern recently, keeping home loan rates near historic lows.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday Aug 25, 2017)
Japanese Candlestick Chart
 
     
 
The Mortgage Market Guide View…  
     
 
3 Rules for Maximum Marketing Response

There’s nothing more disappointing than a dismal response to your marketing efforts. By applying these three proven tips, you can easily and dramatically increase the response you get from any marketing campaign.

Pick the right audience. Giving critical thought to the response you want to generate or the client you want to attract is a crucial first step when it comes to marketing success. One size does not fit all in marketing, and more does not always mean better. Tailor your offer to a specific demographic you want to target, so your message resonates with the right people and you maximize your investment.

Include just one CTA. Offer things like a demonstration, free consultation, or a download … but not all of them in the same marketing piece. Multiple actions confuse audiences and lower response rates. You’ve targeted your demographic; hone in on the action you want them to take. And remember: The only thing worse than including more than one call to action is forgetting the call to action altogether.

Follow up consistently. Don’t give up on leads just because they didn’t invest in your product or services right away. Put cooled leads in your automated e-newsletter or holiday card blasts, or connect with them on social media. Also place an automated reminder in your database to give them a “just checking in” call or email a few times a year. If they are no longer in the market for your products and services, ask for a referral.

Source: Inc.

Economic Calendar for the Week of August 28 – September 01
Christian Penner,#ChristianPenner, Christian Penner Home Loan Company,#ChristianPennerHomeLoanCompany, Current Mortgage Rates,#CurrentMortgageRates, FHA loan,#FHAloan, FHA loans,#FHAloans, FHA Mortgage Financing Specialist,#FHAMortgageFinancingSpecialist, FHA Mortgage Lenders,#FHAMortgageLenders, FHA VA Financing Specialist,#FHAVAFinancingSpecialist, Harp Refinance,#HarpRefinance, Home Finance Mortgage,#HomeFinanceMortgage, Home Loan,#HomeLoan, Home Loan Company,#HomeLoanCompany, Home Mortgage,#HomeMortgage, Home Mortgage New,#HomeMortgageNew, Lenders Mortgage,#LendersMortgage, Mortgage,#Mortgage, Mortgage Banker,#MortgageBanker, Mortgage Banker West Palm Beach,#MortgageBankerWestPalmBeach, Mortgage Broker,#MortgageBroker, Mortgage Broker Florida,#MortgageBrokerFlorida, Mortgage Broker West Palm Beach,#MortgageBrokerWestPalmBeach, Mortgage Broker West Palm Beach,#MortgageBrokerWestPalmBeach, Mortgage Brokers,#MortgageBrokers, Mortgage Brokers West Palm Beach,#MortgageBrokersWestPalmBeach, Mortgage Companies,#MortgageCompanies, Mortgage Company,#MortgageCompany, Mortgage Lender West Palm Beach,#MortgageLenderWestPalmBeach, Mortgage Lender West Palm Beach,#MortgageLenderWestPalmBeach, Mortgage Lenders,#MortgageLenders, Mortgage Loan Lender,#MortgageLoanLender, Mortgage Loan Lenders,#MortgageLoanLenders, Mortgage Loans,#MortgageLoans, Mortgage Rate,#MortgageRate, Mortgage West,#MortgageWest, Palm Beach Mortgage Broker,#PalmBeachMortgageBroker, Palm Beach Mortgage Broker,#PalmBeachMortgageBroker, Palm Beach Mortgage Company,#PalmBeachMortgageCompany, Real Estate,#RealEstate, Real Estate,#RealEstate, Real Estate Home,#RealEstateHome, Real Estate Home,#RealEstateHome, Real Estate West Palm Beach,#RealEstateWestPalmBeach, Realtor,#Realtor, Realtor West Palm Beach,#RealtorWestPalmBeach, Refinance,#Refinance, Refinance A Mortgage,#RefinanceAMortgage, Refinance Home Loans,#RefinanceHomeLoans, Refinance Mortgage Lenders,#RefinanceMortgageLenders, VA Financing Specialist,#VAFinancingSpecialist, VA Home Loan Expert,#VAHomeLoanExpert, VA Home Loans,#VAHomeLoans,

 

 

 

Read from source..>>

 


Questions, Comments or For more information you can contact Christian Penner at: (561) 316-6800 or Office Text Line: 561-530-2223 - visit us online at www.ChristianPenner.com

The Christian Penner Mortgage Team,

Buyer Referral Hotline : (561) 316-6800


Or You can click "Call Me" below to call Christian Penner directly using Google Voice


blackwhite#ChristianPenner, #MortgageBrokerWestPalmBeach talks about #RealEstateWestPalmBeach. He also serves other Local Areas and provides home #MortgageSolutionsforPalmBeachGardens, #Jupiter, #BocaRaton, #Wellington and #Tequesta. #ChristianPennerMortgageBrokerJupiter has the #lowestmortgagerates and the best #homemortgage programs like; #Jumboloans, #FHAHomeLoans, #VAHomeLoans, #ReverseMortgageHomeLoans, #FreddieMacHomeLoans, #FannieMaeHomeLoans and #HARPMortgageLoans. #ChristianPennerMortgageBrokerPalmBeachGardens has Served the area for over 15 years with his #HomeLoanLending Needs and Works with #TheChristianPennerMortgageTeam.
#AskMeAboutAMortgage #PalmBeachMortgageLender #WestPalmBeachMortgageLender #PalmBeachGardensMortgageLender
You Can Also Find Him On
fb mortgageFacebook at: https://web.facebook.com/YourMortgageBanker/

- - -

Christian Penner
712 U.S. Highway 1 North #300, North Palm Beach, FL 33408

Buyer Referral Hotline: (561) 316-6800 | Office Text Line: (561) 530-2223