Check out for this week’s Trident Mortgage update from Senior Mortgage Consultant, Jason Griesser.
There have been changes that brought strong economic reports regarding housing as well as some promise that employment growth is coming along, but that has now been met with escalating global conflicts in both the Middle East and Ukraine. Over the last few weeks the geopolitical events outweighed the domestic good news for our economy. When conflicts like these occur a flight to safely occurs where investors move their money into safer investments like mortgage bonds and US Treasuries. They “safe-harbor” their assets to protect them from possible economic fallout if the conflicts continue to escalate. The interest rates will remain in this lower level until some of the money moves back into stocks and other riskier investments. Until that happens our buyers should enjoy the ability to lock into these incredibly low rates we’ve grown so accustomed to the last few years. The more things change, the more they remain the same!
I also wanted to share two articles I read this week that I thought were interesting. The first is the impact of the younger generations on the jumbo mortgages and the second is a general article on the impact of supply (or lack thereof!) and demand in housing right now:
• Younger borrowers are entering the market for large mortgages, but jumbo lenders still depend on baby boomers…Read the rest of the story.
• New Housing Normal; Pent-up supply and demand…Read the rest of the story.
Jason F. Griesser, CMB
Sr. Mortgage Consultant
Ph: 215-440-2073 | Fx: 610-650-5611