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Markets in a Minute – 8/29/2014

For the Week Ending August 29, 2014
Please enjoy this quick update on what’s happening this week in the housing and financial markets. If you have any questions, please contact my team for fast answers.


The second estimate for Q2 GDP is slightly higher than the first estimate and stronger than expected. Good economic news can lead to rate increases.
The number of people employed surpassed its 2007 high. Yet employable population outpaced job growth. Labor concerns can delay Fed policy changes.
Rates remain in the same narrow range. They continue to hover near this year’s low. 

New home sales slipped again in July when compared with June’s upwardly-revised figure. Sales are higher when compared year-over-year.
43% of Gen-X homeowners have negative equity. Their inability to sell their starter homes may be keeping some first-time buyers out of the market.
Consumer confidence rose for the fourth straight month to a new 7-year high. Positive job market expectations can translate well into home buying decisions.

A man visits his bank manager and says, “How do I start a small business?” The manager replies, “Start a large one and wait six months.”

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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