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Markets in a Minute – 6/13/2014

For the Week Ending June 13, 2014
Please enjoy this quick update on what’s happening this week in the housing and financial markets. If you have questions about this please contact our team. If you are looking to get started on a free pre-approval, please visit http://www.CloseWithMichael.com/GetStarted 

Last week’s potential market movers—employment numbers and a European Central Bank announcement—brought no surprises and no big rate changes.
Credit card debt soared in April, hinting at growing consumer confidence and spending. This is good for the economy but could eventually be bad for rates.
The number of U.S. jobs has returned to pre-recession levels. Slow growth in residential construction related jobs echoes the short supply of new homes. 

Significantly fewer homes had negative equity in May. This could translate to more listings and more sales.
Green building is growing along with the housing recovery. Builders expect more than a quarter of single-family construction to be green by 2016. 
More Americans moved in the last two years to find cheaper housing or to be closer to work. The largest group still moved for a better home. 

Biggest Time Paradox: Bills travel through the mail at twice the speed of checks.

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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