Is Now the Time To Buy? Homebuyer’s Mortgage Watch – March 10, 2019
Tired of renting and considering buying?
This program makes it easier for California renters to buy a home (with as little as 3% down, and it can be gift funds from a relative!) 😲
Click below to see terms/details.
*Borrowers should have a minimum credit score of 580 to qualify
*If you are a veteran you may qualify for additional financing!
This Week Highlights the Following Updates:
- While we continue to experience economic growth, we seemed to have moved into a period where each piece of good news is counterbalanced with less-than-positive news.
- With recent news that the economy powered ahead by 2.6%, we started last week with news that the ISM Service Index boomed upward to 59.7, but then saw our trade deficient set a new record along with news that the Eurozone’s economy is once again struggling to maintain any forward momentum without significant help from the European Central Bank.
- The US monthly employment data saw the unemployment rate dip back down to 3.8% without substantial movement in the participation rates.
- However, only 20K new jobs were created last month after January saw over 300K new jobs created.
- This week will likely see mortgage rates stable or trending downward, especially if Monday’s Retail Sales data once again posts a negative reading.
- Of course, if it surprises experts and posts a positive reading, we could see rates moving upward if the week’s remaining data comes in near expectations.
Homeownership is Still The American Dream
According to a survey by Bankrate, 79% of Americans still believe that owning a home is a vital part of achieving the American dream. Owning that home came in ahead of retirement (68%), having a successful career (63%), and owning an automobile (58%). Interestingly, for those who did own a home, 44% said they had regrets about buying their home. Maintenance costs, size, and location topped the list as the biggest areas of homebuyer regrets.