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Market Update


Please enjoy this quick update on what happened this week in the housing and financial markets.

Comments from Fed Chair Janet Yellen signal a Fed policy rate increase is possible as soon as this month. Rates may rise along with expectations.
However, global concern that Britain may leave the European Union is helping. Traders are seeking safety in bonds, supporting lower rates.
Oil prices, a driving factor in rates this year, have risen recently but are capping out around $50 a barrel. If oil continues to rise, it could contribute to higher rates.

Construction spending was down in April 1.8%, but March data was revised up 1.5%. Overall though, spending remains strong, increasing 4.5% vs. April of 2015.
Home price appreciation remained strong in March, nearing 2006 record highs. Price gains are supported by limited inventory and continued low mortgage rates.
Regardless of rising prices, 1 in 3 Americans surveyed say it is a good time to buy a home. An all-time high of 15% of those surveyed say it is a good time to sell.



The CEO of a large company was walking to the cafeteria along with two of his secretaries. He tripped on a bottle, and a genie appeared and asked the threesome if each would like to make a wish.

The first secretary excitedly exclaimed, “I wish I were on a beach on a tropical island!” Immediately her wish was granted.

The next secretary proclaimed, “I wish I were on a tour of France!” Immediately her wish, too, was granted.

Being that it was now his turn to make a wish, the CEO exclaimed, “I want the two of them back in their offices right after lunch!”

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.

Provide By:
Jason Thibodeau
Thrive Financial
Loan Officer
NMLS #296586, #01472787
(714) 632-3223