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Markets in a Minute – 1/30/2015

For the Week Ending January 30, 2015
Please enjoy this quick update on what’s happening this week in the housing and financial markets. 

The Fed praises economic growth but is closely watching inflation and overseas developments. Members remain patient in raising policy rates.
The Durable Goods report shows weakness in manufacturing. Orders dropped unexpectedly for the 2nd month, supporting Fed patience with rate changes.
Consumers are focusing on the good jobs news. Consumer confidence surged to its highest level since 2007 despite some continuing economic weakness.

December existing home sales data is mixed, with existing sales showing strength and pending sales dropping unexpectedly. Overall, prices are up, and low rates may continue to support the trend.
New home sales blew past predictions with a significant increase, supporting growing market strength, rising prices and the potential for lower inventory.
Former distress sale or “Boomerang Buyers” may be eligible to purchase again. The first big wave of about 500,000 could hit this year.

Two loan officers go to deposit their pay checks on their lunch break, when armed robbers burst in. While several of the robbers take the money from the tellers, others line the customers, including the loan officers, up against a wall, and proceed to take their wallets, watches, and other valuables.
While this is going on, the first loan officer jams something in the other loan officer’s hand. Without looking down, the other loan officer whispers, “What is this?” to which the first loan officer replies, “It’s that $100 I owe you.”

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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