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Markets in a Minute – 1/23/2015

For the Week Ending January 23, 2015
 Please enjoy this quick update on what’s happening this week in the housing and financial markets.


A larger than expected stimulus program in Europe will likely have ripple effects in U.S. markets. Rate volatility is expected until markets digest the full impact.
Consumer prices fell further from the Fed’s 2% inflation benchmark with the biggest drop in 8 years. Deflation could delay a change in Fed policy rates.
Perhaps balancing the Fed’s timeline, consumers love the financial relief. Sentiment hit an 11-year high due to falling gas prices and economic improvement.

Purchase mortgage applications rocketed up in early January. The weekly change has stabilized since then. Apps are still higher than last year.
Housing starts are at their highest level in more than six years. Single-family permits are also up.
Builders remain positive about the new home market due to present and future sales. Concern about traffic may reflect a lack of first-time buyers.

A store manager overheard a clerk saying to a customer, “No, ma’am, we haven’t had any for some weeks now, and it doesn’t look as if we’ll be getting any soon.”

Alarmed by what was being said, the manager rushed over to the customer and said, “That isn’t true, ma’am. Of course we’ll have some soon. In fact, we placed an order for it a couple of weeks ago.”

Then the manager drew the clerk aside and growled, “Never, never, never say we don’t have something. If we don’t have it, say we ordered and it’s on its way. Now, what was it she wanted?”

The clerk smiled and said…

“Rain.”

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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