 Last week, two parts of the housing market seemed to have difficulties, starting with Existing Home Sales, which dipped 2.8% in December to 5.49 million unit annual rate. Even with this monthly decline, 2016 was the best year in a decade for existing home sales.
Sales of single-family homes, townhomes, condominiums and co-ops came in at 5.45 million units, this was the highest level since 2006, even though supplies were low in many areas. Opportunity lies in rates still being near historic lows, growing incomes and analyst expectations that the upward sales trend will continue. Later in the week, New Home Sales came reported being down 10.4% for December to a 536,000 annual rate. At first, this seemed like another difficulty but home sales are volatile month-to-month (ask any realtor) and the year showed a different picture. In 2016, there were 563,000 new single-family home sales, up 12.2% from 2015 and the highest level since 2007. December's glitch can be seen as one more example of a housing market that's been recovering in fits and starts. Analysts see a shift back toward single-family homes and expect that any headwinds from modest rate and price increases will be offset by faster economic growth. Review of Last Week Last Wednesday the Dow Jones Industrial Average broke through 20,000 for the first time in history. This closely watched index of 30 blue chip stocks soared into this new territory capping weeks of strong market performance following the election. The S&P 500, which covers a wide range of companies, ended the week nicely ahead, while the Nasdaq, dominated by technology firms, went up the most. The stock market is seen as a leading indicator of the economy, so the recent performance of these indexes shows that investors clearly expect faster economic growth with the new leadership in Washington. For the moment, we can only ponder data on economic performance under the prior administration and most reports last week disappointed. In addition to the monthly housing misses, the GDP (Advanced) reading for Q4 of 2016 put economic growth at a 1.9% annual rate. That's the same rate we've seen the last two years, reflecting the slow pace of this economic recovery. Durable Goods Orders also under performed, contracting in December but University of Michigan Consumer Sentiment in January hit its highest level in more than a decade, as Americans on Main Street seem as economically optimistic as traders on Wall Street. The week ended with the Dow UP 1.3%, to 20094; the S&P 500 UP 1.0%, to 2295; and the Nasdaq UP 1.9%, to 5661. Friday's disappointing Q4 GDP reading gave bonds a boost. The 30YR FNMA 4.0% bond we watch finished the week UP .03, at $104.80. For the first time since December 29, national average 30-year fixed mortgage rates rose in Freddie Mac's Primary Mortgage Market Survey for the week ending January 26, though rates are still near historically low. This Week’s Forecast Economists expect a spate of decent reports for a change and are predictong Pending Home Sales up in December after sliding the month before. The Core PCE Prices inflation measure should also be up, along with the Employment Cost Index, a forward looking inflation indicator (when worker costs go up, prices eventually follow). Manufacturing is predicted up in the Midwest by the Chicago PMI and nationally as well, by the ISM Index and a few more Non-farm Payrolls are forecast for January however none of this good news shows the kind of economic strength the Fed needs to hike again, so the FOMC Rate Decision should be, "no change." The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Jan 30 – Feb 3 Jan 30 08:30 Personal Income Jan 30 08:30 Personal Spending Jan 30 08:30 Core PCE Prices Jan 30 10:00 Pending Home Sales Jan 31 08:30 Employment Cost Index Jan 31 09:45 Chicago PMI Jan 31 10:00 Consumer Confidence Feb 1 10:00 ISM Index Feb 1 10:30 Crude Inventories Feb 1 14:00 FOMC Rate Decision Feb 2 08:30 Initial Unemployment Claims Feb 2 08:30 Continuing Unemployment Claims Feb 2 08:30 Productivity - Prelim. Feb 2 08:30 Unit Labor Costs Feb 3 08:30 Average Workweek Feb 3 08:30 Hourly Earnings Feb 3 08:30 Nonfarm Payrolls Feb 3 08:30 Unemployment Rate Feb 3 10:00 ISM Services Federal Reserve Watch Speculative Forecasting Federal Reserve policy changes in coming months: It would be a big surprise to virtually all economists if the Fed raised rates this week. Additionally, the majority still do see a hike before June. Note: In the lower chart, a 4% probability of change is a 96% certainty the rate will stay the same. Current Fed Funds Rate: 0.5%-0.75% After FOMC meeting on: Feb 1 0.5%-0.75% Mar 15 0.5%-0.75% May 3 0.5%-0.75% Probability of change from current policy: After FOMC meeting on: Feb 1 4% Mar 15 25% May 3 43% Where are interest rates headed? Call me now, 303.668.3350 or click here to apply! Apply Now! Get the Insider Track on Interest Rates! Cheers! Scott Synovic Nations Reliable Lending, LLC Colorado's Mortgage Expert www.scottsynovic.com 303.668.3350 Direct NMLS: 253799 / NRL NMLS: 181407 Regulated by the Division of Real Estate  Don't Let Common Challenges Keep You From Buying A Home
The Millennial home buyer, otherwise known as a consumer 18 to 34 years old, makes up about 42% percent of home buyers today. The millennial generation is making a huge impact on the housing industry however it also faces unique challenges when buying a home. As a Millennial, you grew up during the Great Recession (December 2007 – June 2009) and there is a good chance you were affected by high unemployment, student loan debt and tight credit standards and regulation. Don’t let these challenges cause you to shy away from buying a home. Times have changed and buying a home today is becoming easier and more affordable. The Millennial Home Buyer Challenge Young adults today are in excellent shape to buy a home. By historical standards, mortgage interest rates are extremely low and home values continue to appreciate (especially in Colorado). Here are some essential tips for Millennial's beginning their journey towards home ownership: Don't Wait Too Long Unlike their parents, studies show that Millennial's tend to rent for longer periods of time before becoming a home buyer. While waiting can certainly make sense in some situations, it can also do more harm than good. Why is this? Mortgage interest rates are on the move and so are housing prices. According to Freddie Mac, 30-year fixed interest rates have increased to an average of 4.32% percent, up a half percent over November’s 3.77% percent average rate. On a $200,000 home with a 5% five percent down payment, your mortgage payment would be $54 more per month. From a longer term perspective, that means you spent over $3,200 more than those who purchased just a few weeks earlier. To protect against further rate increases, it could be wise to find a home and lock in your rate soon. Call me today, 303.668.3350, for a free prequalification to see how much you can afford. Find The Right Real Estate Agent Although under 30's are great at getting things done with very little help, an experienced real estate professional can make finding and buying the right home easier, especially for a first-time buyer. After all, why not hire a person who has more education and expertise in real estate than you? As Henry Ford once said, when you hire people who are smarter than you, it proves you are smarter than they are. The right agent offers invaluable neighborhood knowledge and is up-to-date on an area's market conditions and potential as an investment. Good agents guide you through the process of negotiating a price, securing other concessions (like a home warranty), and sorting out who pays which closing costs. Call me today and I would be happy to refer you a world class agent! Don't Assume You Can't Buy A Home A common challenge for many young college graduates is having sizable student loan debt and little savings. As such, you may assume you don’t have enough cash or income to afford to purchase a home. Some Millennial's are waiting longer than their predecessors to purchase their first home. Recent studies, however, show that you’re likely to pay more in rent than you would for a mortgage payment. Contrary to popular belief, you don’t need 20% percent down to buy a home – actually, you don’t even need five percent. Even if you don’t qualify for 100% percent financing, you may qualify for 95% to 97% percent loans and many programs allow some or all of your down payment to be borrowed or gifted if it comes from an acceptable source. Read more about the Metro Mortgage Assistance Plus down payment grant. This is grant money that does not have to be paid back! Over Analyze and You Could Paralyze Your parent’s generation did not have access to the seemingly unlimited amount of data. You, however, can find everything you need with a quick text, email or Internet search. It is estimated that 9 of 10 home buyers implement online resources for home buying education however a barrage of online information can have its downside. Sometimes too much information can cause uncertainty. Do ample online research and seek advice from family and real estate professionals but don't get overwhelmed and let a good deal pass you by. With today’s technology and the guidance of a trusted real estate agent, the Millennial home buyer has the tools to successfully navigate the home buying process. Call me today 303.668.3350 for a prequalification, we can finish in minutes and I will be sure to pass along the contact information for a few rock star real estate agents! Where are interest rates headed? Call me now, 303.668.3350 or click here to apply! Apply Now! Get the Insider Track on Interest Rates! Cheers! Scott Synovic Nations Reliable Lending, LLC Colorado's Mortgage Expert www.scottsynovic.com 303.668.3350 Direct NMLS: 253799 / NRL NMLS: 181407 Regulated by the Division of Real Estate  Last week saw plenty of evidence that U.S. residential developers and builders are getting very optimistic. Housing Starts shot up 11.3% in December, reaching a 1.226 million unit annual rate. This month's bump all came from the multifamily side but single family starts remain positive, up 3.9% the past year. Single family building permits are up 10.7% over a year ago, at their highest level since 2007, showing a continuing uptrend.
Multifamily building permits are down 15.1% from a year ago, evidence of the shift to single family starts after multifamily construction peaked in 2015. The optimism reflected in the starts and permits reports got further support from the National Association of Home Builders (NAHB). The NAHB builders confidence index hit an impressive 67 in January, just below its December reading, the highest in 11 years. Analysts say both builders and prospective home buyers are encouraged by the pickup in jobs and wage growth and by optimism (at least for now) that more market-friendly policies will be coming out of Washington. December's University of Michigan Consumer Sentiment report saw its Current Economic Conditions index at the highest point since 2004. Nice to see things looking up. Review of Last Week At noon on Friday Donald Trump took the oath of office as the 45th President of our country and Wall Street held its own inaugural celebration. Stocks ended the day near session highs, with the Dow, S&P 500 and the Nasdaq all ahead. Equities had been trading in a fairly narrow range, so all three major indexes finished the week down a tad but they remain in positive territory for the year. Investor optimism stems from the President's campaign promises to lower taxes, reduce regulation and boost infrastructure spending, all good for business, and especially for smaller companies, who create around two thirds of the nation's new jobs. The week's economic reports looked encouraging. Industrial Production was up more than expected in December and factory capacity grew to 75.5%. The Philadelphia Fed Index increased from December to January, showing optimism among East Coast manufacturers. The Consumer Price Index (CPI) also gained in December and is now 2.1% over a year ago. Federal Reserve chair Janet Yellen indicated on Thursday that she wasn't worried about the inflation surge, signaling she saw no reason to quickly raise interest rates. More positive news came with drops in both Initial and Continuing Unemployment Claims. The week ended with the Dow down 0.3%, to 19827; the S&P 500 down 0.1%, to 2271; and the Nasdaq down 0.3%, to 5555. U.S. Treasuries enjoyed small gains on Friday, but many bonds ended the week lower. The 30YR FNMA 4.0% bond we watch finished the week down .29, at $104.77. In Freddie Mac's Primary Mortgage Market Survey for the week ending January 19, national average 30-year fixed mortgage rates dropped for the third week in a row despite the bump in bond yields after the CPI showed hotter inflation. This Week’s Forecast The December reports for Existing Home Sales and New Home Sales are both expected to be down for the month. But sales of existing homes should still be above 5.5 million and new homes just under 600,000. The GDP-Advanced Q4 reading of the economy is forecast to show last year closing at a still slow 2.2% growth rate. The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of January 23rd – January 27th Jan 24 10:00 Existing Home Sales Jan 25 10:30 Crude Inventories Jan 26 08:30 Initial Unemployment Claims Jan 26 08:30 Continuing Unemployment Claims Jan 26 10:00 Leading Economic Indicators Jan 26 10:00 New Home Sales Jan 27 08:30 GDP - Advanced Jan 27 08:30 Durable Goods Orders Jan 27 10:00 U. of Michigan Consumer Sentiment Federal Reserve Watch Speculative Forecasting Federal Reserve policy changes in coming months: A few more economists think the Fed may hike before June, but the majority still sees rates remaining where they are. Note: In the lower chart, a 5% probability of change is a 95% certainty the rate will stay the same. Current Fed Funds Rate: 0.5%-0.75%. After FOMC meeting on: Feb 1 0.5%-0.75% Mar 15 0.5%-0.75% May 3 0.5%-0.75% Probability of change from current policy: After FOMC meeting on: Feb 1 5% Mar 15 22% May 3 40% Where are interest rates headed? Call me now, 303.668.3350 or click here to apply! Apply Now! Get the Insider Track on Interest Rates! Cheers! Scott Synovic Nations Reliable Lending, LLC Colorado's Mortgage Expert www.scottsynovic.com 303.668.3350 Direct NMLS: 253799 / NRL NMLS: 181407 Regulated by the Division of Real Estate  No matter what resolutions we are trying to keep, we should be happy to see the year getting off to a rather good start.
The Mortgage Bankers Association's Weekly Applications Survey for the week ending January 6 had purchase applications up 6% over the week before. It also showed national average 30-year mortgage rates down for the second week in a row, just like in Freddie Mac's Primary Mortgage Market Survey, covered below. Fannie Mae reports that consumers who think now is a good time to buy a home increased by two percentage points last month while those confident they will not lose their jobs went up by four points. Monday the Federal Housing Administration (FHA) announced that "most new mortgages" with a closing or disbursement date on or after January 27, 2017, will see a 25 basis point cut to the annual mortgage insurance premium. The National Association of Realtors (NAR) said this will help more first-time buyers enter the market. The NAR President noted, "Every time we cut the cost of mortgage insurance, it means more borrowers meet the debt-to-income ratio required to purchase a home." The executive director of the Community Home Lenders Association pointed out, "prior FHA premium cut had significant impact in creating new home purchase opportunities." Review of Last Week Stocks in the blue-chip Dow and the broadly-based S&P 500 went down a bit for the week, taking a break from their recent bull runs but stocks on the tech-heavy Nasdaq ended the week at a record-breaking level as that index hit its sixth all-time closing high in seven trading days. Wall Streeters are not optimistic about about the technology sector. Financial stocks are up nearly 20% since the election. Surveys continue to report investor optimism about our overall economic future, and even Fed Chair Janet Yellen says the U.S. economy faces no serious short-term obstacles. The future may be looking up however present economic data remains uninspiring. Retail Sales rose less than expected in December and if you take out automobiles and gas, consumer retail spending grew at the slowest year-on-year pace since early 2014. The Producer Price Index (PPI) for December was in line with expectations, up 0.3%, as higher energy costs drove up wholesale prices. Business Inventories dropped in November, not good, but, worse, the Michigan Consumer Sentiment index fell from December to January. More of us are gainfully employed as Continuing Unemployment Claims sank by 29,000, to 2.09 million. The week ended with the Dow down 0.4%, to 19886; the S&P 500 down 0.1%, to 2275; and the Nasdaq UP 1.0%, to 5574. Positive economic sentiment pushed bond prices lower. The 30YR FNMA 4.0% bond we watch finished the week down .11, to $105.06. Nonetheless, national average 30-year fixed mortgage rates dropped for the second week running in Freddie Mac's Primary Mortgage Market Survey for the week ending January 12. The chief economist credited this to "a mixed December jobs report." This Week’s Forecast Thursday we should see Housing Starts ramp up in December, though still behind the 1.5 million unit annual rate the experts want. Inflation is forecast to remain benign, with the Consumer Price Index (CPI) barely up and Core CPI, excluding volatile food and energy prices, flat. The Philadelphia Fed Index of manufacturing in the Mid-Atlantic region is expected to drop a bit. The stock and bond markets are closed Monday, January 16, for Martin Luther King, Jr. Day. There are no economic reports scheduled for Friday, January 20, Inauguration Day. The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of January 16 – January 20 Jan 17 08:30 NY Empire Manufacturing Index Jan 18 08:30 Consumer Price Index (CPI) Jan 18 08:30 Core CPI Jan 18 09:15 Industrial Production Jan 18 09:15 Capacity Utilization Jan 18 14:00 Fed's Beige Book Jan 19 08:30 Initial Unemployment Claims Jan 19 08:30 Continuing Unemployment Claims Jan 19 08:30 Housing Starts Jan 19 08:30 Building Permits Jan 19 08:30 Philadelphia Fed Index Jan 19 11:00 Crude Inventories Federal Reserve Watch Speculative Forecasting Federal Reserve policy changes in coming months: The majority of economists still think we will not see a second rate hike from the Fed for the next three FOMC meetings. Note: In the lower chart, a 3% probability of change is a 97% certainty the rate will stay the same. Current Fed Funds Rate: 0.5%-0.75% After FOMC meeting on: Feb 1 0.5%-0.75% Mar 15 0.5%-0.75% May 3 0.5%-0.75% Probability of change from current policy: After FOMC meeting on: . Feb 1 3% Mar 15 24% May 3 37% Where are interest rates headed? Call me now, 303.668.3350 or click here to apply! Apply Now! Get the Insider Track on Interest Rates! Cheers! Scott Synovic Nations Reliable Lending, LLC Colorado's Mortgage Expert www.scottsynovic.com 303.668.3350 Direct NMLS: 253799 / NRL NMLS: 181407 Regulated by the Division of Real Estate  This year we should have 357 of the best days ahead of us, if most of the housing market forecasts come true. One online real estate firm expects a fast sales pace, thanks to millennials surging into the market, helping to push existing home sales up by 2.8% in 2017. The National Association of Realtors (NAR) currently estimates existing home sales will rise by 2.0%, their lower estimate based on increasing home prices.A financial services company whose house price index looks at inflation, wage growth and other factors, says prices are still more affordable now than during the housing boom.
Speaking of home prices, a real estate tech and data firm reported prices in November up 7.1% versus a year ago. The property economist for a research consultancy put this to continued low inventories and the rise in housing demand after the election. Of course, the situation varies by market. That data firm forecasts the year will show a 5% increase in prices overall. But some areas may hit double-digit gains, while others decline. Last week, Case-Shiller reported home prices were finally above their all-time highs. Now a listing site notes that the value of housing stock nationally hit an all-time high in 2016, though some markets are still below their peak prices. Review of Last Week You could call 2016 the year of the upstart as British voters who wanted to leave the European Union unexpectedly prevailed, and Donald Trump surprisingly won our Presidential election. Well, 2017 began in the same spirit, with an upstart move in the stock market. The S&P 500 and the Nasdaq finished the year's first week at new record levels, while the blue-chip Dow came within a point of the 20,000 threshold before closing just 36 points below it. Friday's December jobs report inspired some of the euphoria as encouraging Hourly Earnings, up 0.4% for the month and 2.9% for the year, compensated for a lackluster 156,000 new Nonfarm Payrolls. There were other good economic data points. The ISM Index of manufacturing rose in December to 54.7, staying nicely above 50, signaling growth. This was followed by the ISM Services index coming in unchanged at 57.2, which was better than the predicted decline. The services sector of the economy provides the vast majority of jobs, so this is a good thing. We also saw Initial Unemployment Claims drop by 28,000, to 235,000, though Continuing Claims increased by 16,000. The most disappointing report revealed the U.S. Trade Deficit shot up almost 7% in November, with imports outstripping exports by $45.2 billion. The week ended with the Dow UP 1.0%, to 19964; the S&P 500 UP 1.7%, to 2277; and the Nasdaq UP 2.6%, to 5521. The gain in Hourly Earnings was enough good news to drop bond prices on Friday, but not enough to erase gains made earlier in the week. The 30YR FNMA 4.0% bond we watch finished the week UP .11, at $105.17. In Freddie Mac's Primary Mortgage Market Survey for the week ending January 5, national average 30-year fixed mortgage rates moved down for the first time in ten weeks, remaining near historical lows. This Week’s Forecast The December Retail Sales report is forecast to show a nice boost thanks to both holiday sales and rising prices at the pump. The University of Michigan Consumer Sentiment index is also expected to show that folks are continuing to feel better about their economic futures. The stock and bond markets are closed next Monday January 16 for Martin Luther King, Jr. Day. The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Jan 9 – Jan 13 Jan 11 Crude Inventories Jan 12 Initial Unemployment Claims Jan 12 Continuing Unemployment Claims Jan 12 Federal Budget Jan 13 Producer Price Index Jan 13 Core PPID Jan 13 Retail Sales Jan 13 Business Inventories Jan 13 Univ. of Michigan Consumer Sentiment Federal Reserve Watch Speculative Forecasting Federal Reserve policy changes in coming months: A few more economists say we'll see another rate hike in March and even more say May, but most still expect the Fed to stand pat. Note: In the lower chart, a 3% probability of change is a 97% certainty the rate will stay the same. Current Fed Funds Rate: 0.5%-0.75% After FOMC meeting on: Feb 10.5%-0.75% Mar 150.5%-0.75% May 30.5%-0.75% Probability of change from current policy: After FOMC meeting on: Feb 1 3% Mar 15 24% May 3 39% Where are interest rates headed? Call me now, 303.668.3350 or click here to apply! Apply Now! Get the Insider Track on Interest Rates! Cheers! Scott Synovic Nations Reliable Lending, LLC Colorado's Mortgage Expert www.scottsynovic.com 303.668.3350 Direct NMLS: 253799 / NRL NMLS: 181407 Regulated by the Division of Real Estate  Happy New Year!
In the housing market we hope this year will be full of new transactions that help poeple across the state and across the country realize the dream of homeownership, however, with recent interest rate increases, some question whether this will happen.The National Association of Realtors (NAR) Pending Home Sales index dipped in November, 2.5% below its October reading. This measure of contracts signed on existing homes points to actual sales a few months out. The National Association of Relators said higher borrowing costs could somewhat "cloud" the housing market outlook for 2017, yet their chief economist noted that the effect of higher rates will be "partly neutralized" by stronger growth in wages and this year's expected two million net new job additions. Meanwhile, the Case-Shiller National Home Price Index (HPI) came in with an annual gain of 5.6% in October. This report put prices past the all-time highs set more than ten years ago. Since the National HPI bottomed out in February 2012, it climbed to a peak yearly rate just shy of 11% before falling to its present 5% range of annual gains. Case-Shiller's managing director noted "the current high consumer confidence numbers and low unemployment rate do not suggest an immediate reversal in home price trends." however some observers point out that more buyers and sellers might get off the fence given the new market conditions. Review of Last Week The last week of 2016 ended with the three major stock indexes a bit off after the four trading days but up for the month and the quarter. The blue-chip Dow's 13.4% annual gain was its best since 2013, while the broadly based S&P 500 shot up 9.5% and the tech-heavy Nasdaq ended 7.5% ahead for those 12 remarkable months. The year began with the Dow's worst start in history and ended with the best performance from Election Day to year end since Eisenhower won in 1952. Investors clearly think President-elect Donald Trump's policies should speed up economic growth. We look at stock market performance because it's a leading indicator of where the economy might be heading. We follow the bond market to get insight into where interest rates may go. No one knows for sure what 2017 will deliver but things are looking better economically than they did a year ago and it's not just Wall Street that's upbeat. Consumer Confidence in December came in at its highest level since August 2001. The Conference Board's report said American households are more upbeat about the prospects for the economy, the labor market and their incomes, and as we all know, that's good news for the housing market. The week ended with the Dow down 0.9%, to 19,763; the S&P 500 down 1.1%, to 2,239; and the Nasdaq down 1.5%, to 5,383. Treasuries gained three days in a row and bonds overall did well after Friday's lower than expected read on Midwest manufacturing. The 30YR FNMA 4.0% bond we watch finished the week UP .75, to $105.06. For the week ending December 29, Freddie Mac's Primary Mortgage Market Survey reported national average 30-year fixed mortgage rates edged up again. Yet for 2016, they posted the lowest annual average going back to 1971. Remember, mortgage rates can be extremely volatile, so contact me direct at 303.668.3350 with any questions you might have. This Week’s Forecast A few new looks at the old year should reveal key economic data moving slowly ahead as usual. The ISM Index is expected to report manufacturing activity still growing in December, though only a tad more than it did the month before. Friday's December jobs report will be the big focus, but analysts forecast only a modest gain in Nonfarm Payrolls. The good part? Hourly Earnings are expected to resume showing growth. The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Jan 2 – Jan 6 Jan 3 10:00 ISM Index Jan 5 08:30 Initial Unemployment Claims Jan 5 08:30 Continuing Unemployment Claims Jan 5 10:00 ISM Services Jan 5 11:00 Crude Inventories Jan 6 08:30 Average Workweek Jan 6 08:30 Hourly Earnings Jan 6 08:30 Nonfarm Payrolls Jan 6 08:30 Unemployment Rate Jan 6 08:30 Trade Balance Federal Reserve Watch Speculative Forecasting Federal Reserve policy changes in coming months: Fed watchers by and large feel the Funds Rate will stay where it is, following the December hike, well into the year. Note: In the lower chart, a 4% probability of change is a 96% certainty the rate will stay the same. Current Fed Funds Rate: 0.5%-0.75% After FOMC meeting on: Feb 1 0.5%-0.75% Mar 15 0.5%-0.75% May 3 0.5%-0.75% Probability of change from current policy: After FOMC meeting on: Feb 1 4% Mar 15 21% May 3 34% Where are interest rates headed? Call me now, 303.668.3350 or click here to apply! Apply Now! Get the Insider Track on Interest Rates! Cheers! Scott Synovic Nations Reliable Lending, LLC Colorado's Mortgage Expert www.scottsynovic.com 303.668.3350 Direct NMLS: 253799 / NRL NMLS: 181407 Regulated by the Division of Real Estate |
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Scott Synovic NMLS #253799 Fairway Independent Mortgage NMLS #2289
NMLS Consumer Access. Fairway Independent Mortgage Corporation 950 South Cherry Street, Suite #1515, Denver, Colorado 80246 Equal Housing Lender licensed through NMLS Regulated by the Division of Real Estate. Licensed Mortgage Loan Originator licensed in Colorado and California. Not endorsed or sponsored by either state or any government agencies. |
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