Job Creation Tops June 2018 Consensus — 213,000 New Jobs Created, Unemployment Rate Rises to 4.0 Percent, Wages Tick Up 2.7 Percent

Jobs are everything.  Period.  Ongoing good news is that job growth continues to look up. The U.S. added 213,000 net new jobs (preliminary) in June 2018.  The unemployment rate edged up from 3.8 percent in May to 4.0 percent as 204,000 added reentrants came back to the job market.  Reentrants are people that previously worked …Read more

Another Top-10 List — Buyers From the North Midwest Fueling Florida, Colorado and Washington Luxury Housing Markets

There was much debate and rhetoric regarding the potential impact on higher-valued homes arising from passage of the Tax Cut and Jobs Creation Act of 2017.    The thought was that by cutting the allowable interest deduction from $1 million of total loans on the primary and secondary home(s) to $750,000, along with limiting a total …Read more

Forecasts: Residential Refinance & Purchase Lending, 30-Year Conventional Mortgage Rates, Home Sales — June 2018

Fortunately, Fannie Mae, Freddie Mac and the MBA update their quarterly and annual forecasts monthly for residential lending volumes –  both refinance and purchase transactions.  Driving these lending forecasts is  the expectation of future interest rates.  Since 2018 is almost one-half over there is not too much deviation in interest rate expectations for the year, …Read more

New Single Family Home Sales Jump 14.1 Percent Vs A Year Ago in May 2018, Median Price Down 3.3 Percent to $313,000

New single family residential (SFR) home sales of 689,000 on seasonally adjusted annualized rate (SAAR) were up 14.1 percent versus a year ago and 6.7 percent sequentially from April.   Other than the 712,000 SAAR rate posted in November 2017, this is the greatest level seen since October 2007.  Year-to-date new home sales are up 8.8 …Read more