Scott Clirehugh NMLS #97357 Movement Mortgage

06/17/2022

The Big Rate Hike

This past week, the Federal Reserve raised the Federal Funds Rate by .75%, the first such hike since 1994. Let's walk through what the Fed said and how the financial markets reacted heading into the weekend.

06/10/2022

This past week, home loan rates increased slightly from the previous week as we are just a couple of days away before the next Fed Meeting. Let's walk through what happened and discuss what to look for in the week ahead.

09/18/2020

August Housing Starts declined by 5.1% to an annual rate of 1.416M and were up 3% annually while Building Permits fell by 0.9% to 1.470M. But when looking into the numbers, the report was very positive. Single-family starts, which accounts for the largest share of the housing market, rose 4.1% and were up 12.1% annually.

The big decline came in multi-dwelling units after big gains seen in July. Builders are also dealing with land issues as well as the surging lumber prices. Lumber prices are up 170% since mid-April adding $16,000 to the cost of a typical single-family home. So an overall positive report as the sector continues to shine.

New home construction declines in August but underneath the headline, were the numbers also negative? Read on.

06/25/2019

Sales of new homes fell by nearly 8% in May from April by to an annual rate of 626,000 units, below the 683,000 expected. From May 2018 to May 2019, sales declined 3.7%. Inventories are now just above normal rates of 6 months, currently at 6.4 months. The median price of a new home sold in May was $308,000, 2.7% lower than a year ago. New home sales declined in the Northeast and West with gains seen in the Midwest and South.

Sales of new homes fell in May.

05/28/2019

Home price gains continue to cool and are how much below last year's gains? read on.

05/21/2019

April Existing Home Sales Slip

Sales of existing homes declined in April. Is there a silver lining? Read on.

04/02/2019

CoreLogic reports that home prices, including distressed sales, rose 4% from February 2018 to February 2019 as gains begin to cool to more normal levels after the 4.4% increase year-over-year seen last month in January. In early 2018, gains were seen in the 7% range. Month-over-month, prices rose 0.7% from January to February. Looking ahead, prices are expected to rise 4.7% from February 2019 to February 2020.

Home price gains slow a bit. What were the gains last year this time? Read on to find out.

03/29/2019

Low inflation levels coupled with slowing global economic growth continued to push mortgage rates lower in the latest survey to lows seen in mid-January 2018. Freddie Mac reports that the 30-year fixed-rate mortgage fell 22 basis points to 4.06% with an average 0.50 in points and fees. It was the largest one-week decline in a decade. Freddie Mac says low rates and a strong job market will be great for housing demand now that the spring buying season is underway.

Home borrowing and refinancing costs continue decline. Last week's decline in the 30-year fixed-rate mortgage was the biggest one week decline in how many years? Read on.

10/04/2018

Did you know that it’s possible to own a home with a monthly payment lower than your rent? Our attractive loan programs can assist you with purchasing a home with little money down! Contact me for details!

- http://www.loanDepot.com/sclirehugh

10/03/2018

Unless you're paying for a house in cash, you will need to authenticate your income and taxes to qualify for a mortgage. Compiling your documents ahead of time can help you ease stress and save time. Here are some of the documents to keep handy.

- http://www.loanDepot.com/sclirehugh