Please enjoy this quick update on what happened this week in the housing and financial markets.

 

 

As expected, the Fed raised policy rates 0.25% at this month’s FOMC meeting. Bond yields jumped on the news, pressuring mortgage rates higher.

 

The U.S. dollar is at the highest level since 2003, and stocks continue to hit all-time highs. Strong economic activity contributes to mortgage rates increasing.

 

The Fed is expected to continue to raise policy rates in 2017, possibly up to three times. Rising inflation and a tightening job market support this speculation.

 

Rising mortgage rates aren’t dampening Costa Mesa builders’ enthusiasm for the housing market. The NAHB housing market index rose to a 9-year high in December.

 

The HAMP mortgage program expires December 31, 2016. It is being replaced with a new payment reducing Flex Modification foreclosure prevention program.

 

Rising mortgage rates are not curbing demand in Costa Mesa, as inventory remains stubbornly low. Constrained supply is expected for at least 4 more years, according to NAR

Kurt Galitski

Meet Kurt Galitski - The Kurt Real Estate Group, your new best friend. Distinctive Strategies that Deliver Record-Setting Results. When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. But what truly sets him apart from the crowd are his 5 distinctive strategies and his property management… For Kurt, getting into real estate was not an accident, it was a deliberate and calculated decision to deliver a better experience to home buyers, sellers, and landlords that they have ever received before. Today, you could ask any one of hundreds of clients, read his Yelp reviews, or look at his track record of being featured in Orange Coast Magazine in excess of eight consecu­tive years and you too will say mission accomplished. www.KurtRealEstate.com www.KurtPropertyManagement.com 877-957-6677

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