March 1, 2019

NDM News

FHA Purchase Special :  Its back!!!!!!!!  MARCH MADNESS!!!!!  Just in time for a purchase season that is expected to be even better than last year… Nations Direct is offering a 0.25 price incentive on all FHA purchases with FICOs 640 and above.  This special will run through the end of the month and can be combined with preferred or new broker incentives. Contact your Account Executive to learn more. Not signed up with us yet? Click here.

Market News

Stocks are finishing the week relatively strong. The latest news surrounding economic data from China helps to reassure investors concerns about global growth. While China and the prospect of a new trade deal continue, markets still need to digest the turbulent news from around the globe.

Bond prices are slightly down and the 10-year U.S treasury jumped to 2.730%, from 2.711% Thursday. The U.S economy expanded at a 2.6% annual rate in the last quarter of 2018. This is a drop from 3.4% in the previous three-month period. There is still concern surrounding how the U.S economy can continue to expand. Erik Nielson, chief economist at UniCredit in London said “we have a big trouble finding out what multipliers to use, what lags behind to use because haven’t had such a big expansion at the top of the cycle before.

Unexpectedly, U.S. incomes fell in January after a surge on special payouts took place. This has been the first decline in about 3 years. Specifically, personal income fell .01% in January from prior months. December income reflected an $83.4 billion increase in personal dividend income and was a one-time special dividend payment by VMware Inc. A patient Fed will likely wait for to a pickup in inflation rates and spending before resuming their intended interest rate hikes.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage