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Markets in a Minute – 5/2/2014

For the Week Ending May 2, 2014

Please enjoy this quick update on what’s happening this week in the housing and financial markets.

First quarter GDP numbers showed a stagnant economy. Rates moved lower initially to take back earlier increases. 
The Fed’s April meeting brings no surprises or policy changes. Bond market/rate relief was probably more a result of the GDP report, but the Fed news didn’t hurt. 
The Fed’s comment boosted the stock market’s climb to its highest-ever level. While not evident yet, this can incite higher rates.

Pending home sales rose in March for the first time in nine months. 
The ever important jobs report is released on Friday. Borrowers need steady employment. Improvement here will continue to fuel housing recovery. 
So long hot tubs, hello energy efficient windows and high density insulation. Remodelers report “green” projects are leading the trend.

A big, burly man visited the minister’s wife, who was well known for her charitable impulses. “Madam,” he said in a broken voice, “I wish to draw your attention to the terrible plight of a poor family in this district. The father is dead, the mother is too ill to work, and the nine children are starving. They are about to be turned into the cold, empty streets unless someone pays their rent, which amounts to $400.”

“How terrible!” exclaimed the preacher’s wife. “May I ask who you are?”

The sympathetic visitor applied his handkerchief to his eyes. “I’m the landlord.”

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.

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