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Markets in a Minute – 10/3/2014

For the Week Ending October 3, 2014
Please enjoy this quick update on what’s happening this week in the housing and financial markets.  If you haven’t yet seen my most recent post about why some interest rates are higher than others, check that out here.


Both personal income and expenditures show modest improvement. The inflation rate is still below Fed targets. Low inflation could mean continued low mortgage rates for Brookfield and all of Wisconsin.
After trending higher, consumer confidence fell in September. Consumers are less optimistic about jobs. Labor woes could also lead to continued low rates.
On a different note, a closely watched manufacturing report shows slightly slower but still strong activity. Economic stability and growth can lead to higher rates.

Single-family construction spending is up from last month and last year. The trend is for moderate growth, coinciding with improved home builder optimism.
Good for buyers: July’s seasonally adjusted home prices fell in most of the 20 cities studied by Case-Schiller. Better affordability could re-energize the market.
August’s pending home sales fell slightly, probably because of less investor involvement. Steady mortgage apps in September could bode well for the future.

A man told his lawyer, “My neighbor owes me $500, and he won’t pay up. What should I do?”   “Do you have any proof he owes you the money?” asked the lawyer.

“Nope,” replied the man.

“Okay, then write him a letter asking him for the $1,000 he owes you,” said the lawyer.

“But it’s only $500,” replied the man.

“Precisely. That’s what he will reply, and then you’ll have your proof!”

 

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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