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Mortgage Markets in a Minute – 3/13/2015

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For the Week Ending March 13, 2015


Tightening labor market conditions are another sign of an improved economy. Labor market confidence could help the Fed decide to raise policy rates in June.
The dollar continues to improve against overseas currency like the yen and euro. Nearing 12-year highs, the strong dollar is good for interest rates.
Wholesalers report more inventory and decreased sales for January. Blamed by economists on the plunge in oil prices, the changes are good for interest rates.

The number of new homes being built suggests that housing growth continues. The type of homes built points to interest in home ownership by first-time buyers.
Millennials accounted for 32% of all home purchases in 2014. With a median age of 29 and income of $76,900 they were also the largest percentage of buyers.
The housing market continues to rebound. Foreclosure inventory decreased 33.2% and completed foreclosures dropped 22.5% year-over-year in January.

In the “truth is stranger than fiction” category, these actual resume lines shared by Fortune magazine may not have helped land the job but are sure to make you laugh.

1. “My goal is to be a meteorologist. But since I possess no training in meteorology, I suppose I should try stock brokerage.”

2. “I procrastinate, especially when the task is unpleasant.”

3. “Note: Please don’t misconstrue my 14 jobs as ‘job-hopping.’ I have never quit a job.”

4. “The company made me a scapegoat, just like my three previous employers.”

5. “Wholly responsible for two (2) failed financial institutions.”

 

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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