March 31, 2018 – Market Update

Good Morning, SD Capital Funding’s back with this week’s market update.
Click here to listen and watch our audio update video!
For better or worse, the bond market had a shortened holiday week – but ended with a bang. Mortgage rates hit a 2 week low driving up new purchase applications. Just in time for Spring!! The biggest housing and Real Estate news came from someone we all know, however, an unfamiliar friend to the Real Estate world. Elon Musk plans on building LEGO-like blocks made out of rocks and dirt to build houses and other structures. The blocks would be strong enough to withstand a California earthquake but light enough for 2 people to build the exterior structure of a home in 2 days. That’s amazing!!
Coming back to reality now. Although economic data should be pushing rates higher, geopolitical risk is keeping the lid on rising rates. The 30 year fixed rate mortgage is 4.27%.
Did you know? Americans consume more than 16 million jelly beans during this holiday. That is enough jelly beans to circle the globe not once, not twice, but three times. That concludes this week’s update, we’ll be back in 2 weeks. Happy Easter!!
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