CCL Market Update: Labor Market Conditions, JOLTS, Mortgage Applications, Beige Book, Jobless Claims, Janet Yellen Speaks, Consumer Price Index, Consumer Sentiment

Labor Market Conditions

Nonfarm payroll growth of 222,000 was strong in the June employment report butnot6  average hourly earnings which only 0.2 percent higher, part of the mix that makes for only a moderate 1.5 in the labor market conditions index.

JOLTS

In a mixed report employers are finally catching up with their hirings as job openings, at […]

By |July 17th, 2017|CCL Market Updates|0 Comments

CCL Market Update: Consumer Spending Measure, Construction Spending, Job Creation Index, FOMC Minutes, US ECI, Mortgage Applications, Challenger Job-Cut Report, Jobless Claims, Good Jobs Rate, Employment Situation

Gallup US Consumer Spending Measure

In June, Americans’ daily self-reports of spending averaged $103, this is only $1 down from their $104 average in May. This is the highest level of spending for the month of June since 2008, when spending averaged $104. Americans’ reported spending has averaged $100 or more since February, for the longest […]

By |July 10th, 2017|CCL Market Updates|0 Comments

CCL Market Update: Case-Shiller HPI, Consumer Confidence, Fed Chair Speech, Mortgage Applications, Pending Home Sales Index, GDP, Jobless Claims, Personal Income and Outlays, Consumer Sentiment

S&P Corelogic Case-Shiller HPI       

The housing sector in early spring turned out to be a disappointment and is reflected in the Case-Shiller’s home price index which rose an undersized 0.3 percent in April. The yearly rate, having climbed toward the 6 percent line back in February and March, slid back down 2 tenths to 5.7 […]

By |July 3rd, 2017|CCL Market Updates|0 Comments

CCL Market Update: Mortgage Applications, Existing Home Sales, Jobless Claims, FHFA House Price Index, New Home Sales

Mortgage Applications

Purchase applications for home mortgages fell 1 percent on a seasonally adjusted basis during the week of June 16th. The unadjusted purchase index is 9 percent above the level it was during the same week one year ago. The refinancing share of mortgage applications rose 1.2 percent to 46.6 percent of all home mortgage […]

By |June 26th, 2017|CCL Market Updates|0 Comments

CCL Market Update: Mortgage Applications, Consumer Price Index, FOMC Meeting Announcement, Fed Chair Press Conference, Jobless Claims, Housing Market Index, Housing Starts, Consumer Sentiment

Mortgage Applications

Purchase applications for home mortgages fell a seasonally adjusted 3 percent in the week of June 9th. Though this decline is a result for the heavy adjustments made for the Memorial Day holiday in the prior week. The unadjusted purchase index increased 19 percent from the week prior to a level 8 percent higher […]

By |June 19th, 2017|CCL Market Updates|0 Comments

CCL Market Update: US Consumer Spending Measure, US ECI, JOLTS, Mortgage Applications, US Job Creation Index, Jobless Claims

Gallup US Consumer Spending Measure

May average spending levels continued to be relatively healthy in at $104, just below the April average of $107. May was the fourth consecutive month that Americans’ spending averaged $100 or higher. Since 2009, the majority of May’s spending average has been within $2 of the average for the entire year; […]

By |June 12th, 2017|Uncategorized|0 Comments

CCL Market Update: Personal Income and Outlays, S&P Case-Shiller HPI, Consumer Confidence, Mortgage Applications, Pending Home Sales, Beige Book, Challenger Job-Cut Report, Construction Spending, Good Jobs Rate, Employment Situation

Personal Income and Outlays              

Compared to the first quarter, April was mostly a favorable month for the consumer who benefited from strong wage gains, kept money in the bank, and was an active shopper. Consumer spending opened the second quarter at 0.4 percent as predicted, with strength in durables spending; including vehicle’s offsetting a subpar […]

By |June 5th, 2017|CCL Market Updates|0 Comments

CCL Market Update: New Home Sales, Mortgage Applications ,FHFA Price Index, Existing Home Sales, FOMC Minutes, Jobless Claims, GDP, Consumer Sentiment

New Home Sales

In a mixed report, new home sales dropped 11.4 percent in April to a much lower than anticipated rate of 469,000. The offset is the 40,000 upward revisions to March and February now at 642,000 and 607,000 respectively. There is major volatility in this report, making a three month average essential to evaluate […]

By |May 29th, 2017|CCL Market Updates|0 Comments

2017 USDA Income Limits Update

The income limits for the USDA Single Family Housing Guaranteed Loan Program were recently updated and increased for new mortgages originated in 2017.  The maximum eligible income for this loan program is defined as the greater of 115% of the US median family income or 115% of the average of the state-wide and state non-metro […]

By |May 24th, 2017|Loan Program News|0 Comments

New Guidelines for SFR’s with Manufactured Homes

Central Coast Lending has expanded their underwriting guidelines for properties with a stick-built single family residence (SFR) AND a manufactured home on the same parcel; the once impossible scenario to finance now has three loan options!

First Option: Stick-built SFR and PERMANENTLY affixed manufactured home on the same property.

Appraiser must support it is common to […]

By |May 24th, 2017|Loan Program News|0 Comments