|For the Week Ending October 6, 2017
Please enjoy this quick update on what happened this week in the housing and financial markets.
|Stock markets are once again hitting record highs, as traders’ appetite for risk increases. Strong equity markets can slow down improvements in mortgage rates.|
|Anticipated tax cuts are one of the drivers for improved equity markets. Corporate tax cuts are expected to help spur the economy, increasing rates.|
|Despite continued impact from Hurricanes Harvey and Irma, jobless claims fell this week. A strong labor market could support a Fed rate hike in December.|
|Kitchen renovations are among the top remodeling projects most likely to add value to a home at resale. Homeowners generally recover up to 57% of the cost.|
|Mortgage applications for purchases were slightly higher last week, up about 1%. That’s nearly 5% higher than a year ago, despite a shortage of inventory.|
|A national homebuilder is offering a program to pay student loan debt for homebuyers. The program pays up to $13,000 and up to 3% of the home price.|
|I told my girlfriend she drew her eyebrows too high. She seemed surprised.
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.