Financing Market Report from Kirk Sieg

For the Week Ending January 30, 2015

Please enjoy this quick update on what’s happening this week in the housing and financial markets.

The Fed praises economic growth but is closely watching inflation and overseas developments. Members remain patient in raising policy rates.

The Durable Goods report shows weakness in manufacturing. Orders dropped unexpectedly for the 2nd month, supporting Fed patience with rate changes.

Consumers are focusing on the good jobs news. Consumer confidence surged to its highest level since 2007 despite some continuing economic weakness.

December existing home sales data is mixed, with existing sales showing strength and pending sales dropping unexpectedly. Overall, prices are up, and low rates may continue to support the trend.

New home sales blew past predictions with a significant increase, supporting growing market strength, rising prices and the potential for lower inventory.

Former distress sale or “Boomerang Buyers” may be eligible to purchase again. The first big wave of about 500,000 could hit this year.

 

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.

Sincerely,

Kirk Sieg
862184/LO.045354/MB800302.019-BR
Equity Resources, Inc.
(724) 799-3465
www.callequity.com
ksieg@callequity.net

8500 Brooktree Rd Suite 220, Wexford, PA 15090

NMLS 1579. Equal Housing Lender. Certain restrictions apply, call for details. AL MC20405.003; AZ BK-0928406, BKBR-0119886; DC MLB1579, MLB318356, MLB206792, MLB1244789; DE 9521, 18096, 11829, 19804; FL MLD880, MLDB1628, MLDB1629, MLDB2489; IN 11055 & 9940; KY 824; MD 14944, 15822, 19299, 19381, 19954, 19044, 21427; MI FR-0018548; NC L-134393-101, L-134393-102; OH MB800302 & SM501794; PA Dept of Banking; SC MLS-1579, MLB-1237766; VA NMLS 1579 (www.nmlsconsumeraccess.org) DBA Equity Resources of Ohio, Inc., ERI Mortgage, Inc., Equity Resources, Inc. of Ohio, Equity Resources of Ohio.

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Equity Resources, Inc. – 8500 Brooktree Rd Suite 220 , Wexford, PA 15090