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Markets in a Minute – 8/22/2014

For the Week Ending August 22, 2014

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

The Consumer Price Index is creeping higher. Rising inflation is an indicator of a strengthening economy and could lead to higher rates.
Despite labor improvements, the Fed is still concerned about sluggish wage growth. Policy changes will be data-dependent and made in a predictable manner.
Rates fluctuated in the past week primarily in response to geo-political events. They remain at the lower end of the recent range.

The Homebuilder Index rose for the third straight month. Homebuilders note an increase in serious buyers and are more optimistic about future sales.
After a disappointing drop in June, housing starts rebounded more than expected in July. Multi-family housing led the charge, perhaps indicating a market shift.
Like housing starts, existing home sales made a comeback in July. Multi-family again jumped highest, though single-family sales were also strong.

A miser had worked hard and saved money all his life. Before he died, he asked his wife to bury all his money with him so he could take it to the afterlife.

As the undertakers prepared to close the casket,

the wife solemnly placed a shoebox next to her husband’s body.

After the funeral, her closest friend exclaimed, “I hope you weren’t crazy enough to put all that money in the casket!”

“But I promised him,” said the grieving wife.

“You’re burying every cent with him?” asked her incredulous friend.

“I am,” she replied. “I got it all together and deposited it into my account.

Then I wrote him a check for the full amount.”

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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