Expected slowdown in remodeling is good news for mortgage business

Mortgage rates fell to 3.84% in mid-June according to Freddie Mac, but could they go lower? A lot lower? Even the lowest they’ve been in 50 years? Mortgage rate commentator Barry Habib is making.

Consumer spending is expected to rebound this quarter after a slowdown during the winter. The Labor Department reported Friday that employers added a solid 196,000 jobs in March, up sharply from the.

Remodeling activity stepped up in recent years as homeowners stayed put for nearly twice as long as before the housing bubble burst. But several forecasts point to a potential slowdown on the horizon, which is a welcome sign for the mortgage business, according to the Mortgage Bankers Association.

Expected slowdown in remodeling is good news for mortgage business 2 months ago admin Remodeling activity stepped up in recent years as homeowners stayed put for nearly twice as long as before the housing bubble burst.

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Originations of single-family first-lien mortgages are predicted to slide around 8% to $1.66 trillion amid a slowdown in home sales growth and lower refinance volume due to higher mortgage rates.

The Trump bump has faded, and the real estate market is expected to soften into 2019. The annual growth in national home improvement and repair spending by Americans is expected to slow in 2019, according to the Leading Indicator of Remodeling Activity (LIRA) released Thursday by the remodeling futures program at the Joint Center for Housing Studies of Harvard University.

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This won’t be the only cut in interest rates we see in coming months – which may be good news for people with mortgages, but it’s a bad sign for the economy in which we live and work.

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