January 20, 2018 – Market Update

Good morning and welcome to SD Capital Funding’s bi-weekly market update.
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On Friday morning, the yield on the U.S. 10-year Treasury jumped to its highest level since 2014. The 10-year treasury yield is a widely used benchmark for many types of loans, including mortgages. As the yield continued to rise this week, the 30-year fixed rate mortgage hit a 12 month high, hitting 4.23%. As traders move out of the bond market and the Federal Reserve raising rates, expectations are rates will continue to move higher.
According to Zillow, there are 10 percent fewer homes for sale compared to a year ago, and in the hottest markets, where prices are appreciating fastest, there are up to 40 percent fewer homes for sale.
With all that being said, we still expect an extremely competitive spring home buying season. And did you know, In Scotland, homeowner’s paint their door red once they’ve paid off their mortgage?
Happy house hunting!!

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