Housing continues to be a great investment, further proved by today’s S&P CoreLogic Case-Shiller Home Price Index report in combination with last week’s FHFA HPI report. Home prices, though missing expectations in today’s report for April, remain at very strong levels. Housing starts are trending higher. It’s a great time to buy and sell……or refinance.
TransUnion, who recently released a report stating 55% of those who shopped for a mortgage in the first quarter of 2017 were non-homeowners, also found 34 million renters 25 to 44 years of age were credit eligible for a mortgage.
Consumer Confidence rose to 118.9 in June, beating expectations of only 116.7. Consumers expect the economy to continue to grow and are overall optimistic.
Fed Chair Janet Yellen did comment today on the economy and financial situation, stating banks are “very much stronger” and it’s not likely “in our lifetime” we will see a crisis. The Fed have been focused on bringing stability back to the banking system and are confident in the current state of the economy.