SD Capital Funding’s back with another market update!
Our economy and business-friendly President commented on the Fed’s interest rate policy on Thursday. Presidents generally do not comment on Fed policy but complaining that higher interest rates would strengthen the dollar and put the US at a disadvantage, very briefly, roiled the stock and bond markets.
As the economy continues to grow, economists continue to keep their finger on the pulse of the largest consumer market, the millennials, but not much is happening! Millennials, who prefer urban environments, are procrastinating about home buying along with marriage and having kids! Recent surveys show the largest barrier to homeownership is the down payment. The common misconception of requiring a 20% downpayment is keeping millennials from even beginning the home search.
Even though interest rates have stopped rising for the time period, home buying across the country has been relatively flat. The week ended with the 30 year fixed rate mortgage at 4.521.
That’s our market update, we’ll be back in two weeks!