Robert Krowel Market Update

For the Week Ending January 13, 2017

Please enjoy this quick update on what happened this week in the housing and financial markets.

	Wholesale inventories rose in November, slightly more than previously reported. The increase was the largest gain in 2 years and supports economic growth.
	Rising wages and expected tax cuts are expected to boost consumer spending and support economic growth through much of this year.
	A tighter labor market and anticipated improvements are expected to stoke inflation. Inflation could contribute to rising rates through 2017.

	Purchase mortgage applications were up 6% for the week as buyers head back to the housing market after the holidays. It also helps that rates have improved.
	According to CoreLogic, foreclosures are approaching pre-crisis levels. November foreclosures numbered 26,000, down from 35,000 in November 2015.
	In an NAHB survey, 70% of homebuyers preferred an open floor plan home. Builders are delivering, with 84% reporting the use of open or partially open plans.

Paraskevidekatriaphobia (fear of Friday the 13th) Fun Facts 1. 90% of US skyscrapers do away with floor number 13, according to reports by the Otis Elevator Company, the world's largest elevator manufacturers. 2. The 32nd President of the United States, Franklin Roosevelt, never travelled on a 13th and refused to have a meal with 13 people at the table. 3. The deadliest associations with number 13 are the facts that there are 13 stairs leading to the gallows; the blade in a guillotine fell from a height of 13 feet; and a hangman has 13 knots in a hangman's noose.

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time. Please Go to my link Robert Krowel for more information on how to purchase or refinance your home.

Sincerely,

Robert Krowel
Branch Manager
NMLS# 213875
(949) 287-9296 (951) 756-3748
Doorway Home Loans
41197 Golden Gate Circle, Unit 109
Murrieta, CA 92562
robert.krowel@doorway.com
www.doorway.com/robert-krowel

International City Mortgage, Inc. is an Equal Housing Lender. All programs, terms, rates and conditions are subject to change without notice. NMLS #222730. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act #4130570 (International City Mortgage, Inc. and DBA Doorway Home Loans). Alabama Consumer Credit License #21877. Arizona Mortgage Banker License #0923952; #0938767 Doorway Home Loans. Colorado Mortgage Company Registration (DBA Doorway Home Loans). Florida Mortgage Lender Servicer License #MLD1173. Hawaii Mortgage Loan Originator Company #HI-222730 (International City Mortgage, Inc., DBA Pacific Rim Mortgage). Illinois Residential Mortgage License #MB.6760856. Nevada Mortgage Banker License #3795. New Jersey Residential Mortgage Lender License. New Mexico Mortgage Loan Company License. Oregon Mortgage Lending License #ML-5205 (DBA Doorway Home Loans). Texas SML Mortgage Banker Registration (International City Mortgage, Inc., DBA ICityMortgage Corp). Licensed by the Texas Office of the Consumer Credit Commissioner, Regulated Lender License #1400050923-151692. Utah Division of Real Estate Mortgage Entity License #8367544. Utah Department of Financial Institutions Residential First Mortgage Notification. Virgin Islands Mortgage Lender License #VI-MLC-222730. Washington Consumer Loan Company License #CL-222730 (International City Mortgage, Inc. and DBA Doorway Home Loans). Wisconsin Mortgage Banker License # 222730BA. Business services and products do not originate from HUD, FHA, the Government of the United States, or any Federal, State or local government agency.

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Doorway Home Loans - 41197 Golden Gate Circle Unit 109, Murrieta, CA 92562