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Markets in a Minute – 1/9/2015

For the Week Ending January 9, 2015

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

Minutes from the Fed’s last meeting confirm they are unlikely to increase policy rates before April. Concern for low inflation could delay a change.
Positive economic indicators could lead to market rate increases outside of Fed action. For example, consumer spending is near a post-recession high.
However, international money woes continue to place downward pressure on rates. This pressure is currently stronger than good economic news at home.

Experts predict an improving job market will usher previously absent millennials into the housing market in the new year.
Two forward-looking indicators also offer optimism for 2015. Private residential construction spending and pending home sales increased in November.
More good news for sellers: The percentage of homeowners with negative equity continues to fall. It’s almost down to half of its 2012 peak.

A man asked his friend for a cigarette. His friend said, “I thought you made a New Year’s resolution to quit smoking.” The man replied, “I am in the process of quitting. Right now, I am in the middle of phase one.”

“What’s phase one?”

“I’ve quit buying.”

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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