For the Week Ending March 22, 2019

EXCITING NEWS THIS WEEK!

• We could be entering a mini-refi boom. Since the start of the year, mortgage rates have been on a slow, steady decline.

• The Fed did not raise policy rates at this month's FOMC meeting. Based on Fed projections, we likely won't see another Fed rate hike until 2020.

• Now is the PERFECT time for your clients to refinance their mortgage! 

  • With mortgage rates today, there are refinance opportunities for all types of homeowners. The typical refinancing household will be able to save more than 30% annually on their mortgage. For some, you may be able to save even more.

  • Contact us if you have a client, a friend, or family member that has never refinanced or is interested in learning more about rates today! 

• Jobless claims fell to 221,000 last week. That's a 4-week low, as the labor market tightens further following the 5-week government shutdown.

• Home builders remain optimistic about the housing market as mortgage rates continue to fall. Lower rates can make mortgage payments more affordable.

• Mortgage applications rose 1.6% over the previous week, helped by lower rates. The average loan size set a record for the 3rd week in a row, reaching $327,500.