Is Now the Time To Buy? Homebuyer’s Mortgage Watch – March 17, 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:
- Economic headwinds outside of the United States continue to help hold US mortgage rates down.
- With Asian countries and the EU struggling to keep their economies growing, money is moving into our bond markets with US Treasuries outperforming most other forms of “safe” government debt around the world.
- Retail sales managed to step 0.2% upward at the headline level, but removing oil and volatile issues revealed a core reading that popped upward 1.2%. Industrial Production managed to eke out a 0.1% increase and Orders for Durable Goods stepped upward 0.4%.
- Housing news was mixed, with New Home Sales softening a bit, but Construction Spending moving 1.3% upward.
- This week’s economic news will likely be dominated by the meeting of the Federal Reserve and the ongoing drama in the UK.
- Rates are not expected to change, but the Fed will release its “dot plots,” showing the governor’s thoughts on future economic growth.
- If we see signs that the Fed believes our economy can power through a global slump, rates might move slightly upward for the week.
How Much is That Swimming Pool Worth?
Redfin recently completed a study analyzing the boost that a swimming pool gave to a home’s price in metro areas with a minimum of 5,000 homes sold with at least 2% of the homes featuring a pool. In Los Angles, having a swimming pool boosted the home’s resale price by $95,353 adding an average $56.45 to the home’s price per square foot. Pools in Austin, TX, added $28.67, in Orange County, CA they added $26.47, and in Riverside, CA they added $24.74.