A word from Graham Wong at Mortgage Capital Partners
I work with a host of terrific 3rd party vendors and providers, including Lenders, Title & Escrow Companies, Financial Planners and more. One of my go-to Lenders is Graham Wong with Mortgage Capital Partners. He sends me frequent market updates and I wanted to post his recent musings on the market to this blog page. I encourage you to visit their site for more information - http://www.mortgagecapitalpartners.com/
Here's what he wrote yesterday:
Political concerns in France had recently driven global investors to seek safety in bonds, helping rates. Fears have eased though, which is slightly worse for rates. Trump released his proposed tax cuts this week but was short on details. Investors are concerned about the vagueness, which has helped rates.
Durable goods data is a bit mixed but still supports a growing economy. Jobless claims' four-week average is at a two-month low, indicating a strong labor market.
Pending home sales were down slightly in March, a byproduct of continuing low inventory and high demand. The national home price index jumped 5.8% in February, according to a Case-Shiller survey. This is the biggest increase in nearly 3 years. Sales of new single-family homes rose for the 3rd consecutive month in March. The numbers were the 2nd highest on record since the Great Recession.