Early holiday shopping numbers are on track to break season records. However, stocks are still volatile and trending downward, despite the strong consumer spending.
The reversal in stocks this year has helped mortgage rates improve from October levels. Although the Fed increased policy rates, mortgage rates have improved.
The economic outlook heading into 2019 is concerning investors. As they turn to the safety of bonds for protection, mortgage rates could continue to improve.

 

Annual home price gains have slowed nationwide, according to Case-Shiller. Even still, prices increased 5.5% year-over-year, holding steady from last month.
The current partial government shutdown may have some effect on mortgages and housing. Flood insurance and tax transcripts could be the most affected.
A recent survey of homeowners showed aesthetic appeal, affordability, commute times and neighborhood character were the top reasons for picking a home.

 

 

“What the new year brings to you will depend a great deal on what you bring to the new year.”
Vern McLellan 
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.