Welcome to Markets in a Minute
Our Markets in a Minute is a video series provided by V.I.P Mortgage weekly. Enjoy this minute-long video and make sure to come back every week to see new videos with facts about our markets. Questions ask us in the comments or send us a comment on our contact page.
Our Take on Markets in a Minute:
Producer Prices Rose in April.
This is not ideal for economists. This pushes inflation to rise and in the end, makes mortgage rates go higher as well. Make sure to take advantage of lending rates from our partners, like VIP Mortgage, in order to get your mortgage rate at a rock-bottom fixed rate.
Applications for Employment are Up
The labor market is improving slowly, as we saw a trend of employment applications fall, indicating that joblessness is falling and getting people back to work. Meanwhile; in certain locations around the country businesses are having a hard time getting employees because of the number of other opportunities in their areas.
Mortgage Applications are Up Compared to Last Year
Compared to last year mortgage applications are up 13% from 2020, as well as: refinancing applications were up 3% over last year’s record-breaking numbers. Giving American families no new hope to own their own homes because inventory is at an all-time record low; while materials prices are rising.
Finally…
We are looking at numbers and are still out a considerable amount of time due to worker shortages at our home suppliers, but we are working hard to bring these homes to you as fast as WE can in order to make certain that you get your home.
“No one has to wait, but can start right now to gradually change the world!”
– Anne Frank