Get Adobe Flash player

Markets in a Minute | April 10, 2015

For the Week Ending April 10, 2015

Last week’s much weaker than expected jobs data could help delay a Fed rate hike. Fed action later in the year would help keep mortgage rates lower now.
Economists were encouraged by growth in non-manufacturing sectors of the economy. The growth is a sign of stability and a stronger overall economy.
The latest Fed commentary points to future rate decisions being data dependent. Experts still disagree on when the Fed will act, or if it will even be in 2015.

As indicated by mortgage applications for purchases, the spring market is gaining momentum. Applications hit a 21-month high in a 3rd week of improvement.
More home buyers may soon gain easier access to home financing. The MBA’s Mortgage Credit Availability Index shows an easing in lending standards.
According to Corelogic, home prices continued to increase in February. It was the highest home appreciation reading prior to a spring market in 9 years.

Desperate to get a letter from her college son, a mother sends him a check with this note: “Do not cash until you write me a letter.”

A few weeks later, the check had cleared, yet no message had arrived. So she called him. “I told you not to cash the check until you’d written me a letter,” she complained. “I didn’t cash the check,” he said. “I deposited it.”

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.

Print Friendly, PDF & Email