6 Key Things In The World of Mortagage and Real Estate This Week

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6 Key Things In The World of Mortagage and Real Estate This Week


 
1

As we enter the fourth week of the partial government shutdown, the mortgage business has been mostly unaffected but concerns around FHA, verifying income, and funding all loom.

2

The shutdown is causing delays in the release of some government economic reports, which are coming out more sporadically than normal.

3

Good news on the inflation front as the latest inflation figures indicate that inflation continues to track close to the Fed’s target level of 2%.

4

Minutes released from the Fed’s most recent meeting eased investor concerns that the Fed may increase short-term rates too aggressively or too quickly.

5

Mortgage denial rates are at the lowest point since 2004.  CoreLogic estimates that only about one in ten mortgage applications were denied in 2017, the most recent year reviewed.

6

Thanks largely to affordability issues, an excessive Debt Ratio is now the number one reason for mortgage denials (30.3% of all denials) surpassing poor credit.

Source: mbsquoteline
 

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