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Daily Market Watch for Thursday, August 16, 2018 (Courtesy of Larry Baer and Market Alert )
Short Term Trend (5 days or less): Favors steady to fractionally lower rates and slightly higher prices.
Long Term Trend (6 days or more): Favors lower prices and steady to slightly higher rates.
 
Commentary:

The Commerce Department released its July Housing Starts and Building Permits report earlier this morning. The data showed Housing Starts picked up slightly in July increasing 0.9% above the revised June total, but still 1.4% below the July 2017 level for Housing Starts. Building Permits posted marginally better numbers showing a 1.5% increase on a month-over-month basis.

Single-family home starts are up 2.7% from July 2017. Single-family building permits are up 6.4% from year-ago levels.

The collective story told by today’s numbers from the housing sector indicate after a slow start during the first half of the year activity levels will pick up again in the near future. Mortgage investors showed little reaction to the Starts and Permits reports.

As they do every Thursday, the Labor Department released their initial jobless claims figures for the week ended August 11th. The number of Americans standing in line to file first-time government jobless claims fell 2,000 to finish the week at 212,000. This report did nothing but reconfirm broadly held beliefs among mortgage investors that the health of the labor sector remains robust.

The overall economic news of the day did nothing but reinforce mortgage investors expectations the Fed will tighten their benchmark short-term interest rates by 25 basis points two more times before 2018 comes to an end. The first 25 basis point rate hike is expected following the Federal Open Market Committee meeting scheduled for Tuesday, September 25th and Wednesday, September 26th.
 
Rates Last Updated 8/17/18, 9:51 AM CST 
Description
  Rate 
Orig.
 Disc. 
 Crdt. Score 
 Dbt. Ratio 
 APR*
  *Rates and terms are subject to change at any time and certain variations, restrictions, or improvements may apply based on creditworthiness, loan amount, property type, etc. APR's do not include mortgage insurance which may be required for LTVs greater than 80%, or closing costs from undetermined third parties including the title company.
 
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Contact Information
Houston:Jim Norris (RMLO #304627)
12010 Miramar Shores Dr
Houston, Tx 77065
(281) 970-1082 ext 1
(866) 717-4556 ext 1
Email:jim@sweetwatermortgage.com
Houston:Ellen Roloff Norris (RMLO #304630)
12010 Miramar Shores Dr
Houston, TX 77065
281-970-1082 ext 2
866-717-4556 ext 2
Email:elle@sweetwatermortgage.com
Brenham:Gayle Valentine-Hill (RMLO #298234)
979-353-4234
Email:gayle@sweetwatermortgage.com
Brenham:Sandra Starnes (RMLO #298126)
979-251-0726
Email:sandra@sweetwatermortgage.com
  
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