What's up with the housing market? | November 11th
National Housing Report: November 11th
Melody and I are pleased to bring you a weekly report on the mortgage and housing industry, as well as the economy. Weekly we will publish the following report from CoreLogic as a courtesy to you. For more detailed statistics about Utah real estate markets, look for our real estate market updates weekly!
Construction job openings increased in Sept on a year-over-year basis. The estimated number of job openings was 338,000.
CoreLogic's House Price Index for Sept showed house prices continue to go up, rising 3.5% year-over-year. Prices were 0.4% higher in Sept than in August.
Down payment assistance on FHA loans increased from 30% in 2011 to 40% in 2018. Also, a new study debunks the myth that down payment assistance buyers are more likely to default.
Continued progress in trade talks with China is helping stocks rally to record highs and driving bond yields higher. Increased bond yields are pressuring mortgage rates higher.
U.S. service companies grew at a faster pace in Oct after sinking to a 3-yr low in Sept. Measures of sales, new orders and employment all rebounded from the previous month.
Jobless claims fell more than expected last week. Along with last week's payroll gains, this shows consistent strong labor market conditions and continued job growth.