Get Adobe Flash player
Archives

Markets in a Minute | 5/29/2015

markets_header
For the Week Ending May 29, 2015
 

Please enjoy this quick update on what happened this week in the housing and financial markets.

Business spending in April was stronger than economists had forecast following a weak Q1. Continued improvement may lead to higher rates.
While still cautious after a steep April decline, Consumer Confidence rebounded in May. What’s good for the economy can be detrimental to interest rates.
Fed Chair Janet Yellen says that delayed action would risk overheating the economy. Her comments make a policy rate increase more likely to occur in 2015.

The housing market recovery continues to gain traction, as shown by April’s rising new home sales. Housing is being buoyed by a strengthening jobs market.
Home prices across the country rose again in March, 4.1% on a national basis. Lean inventory and limited income growth are contributing to the rising values.
Pending home sales climbed to the highest level in nine years in April. This 4th straight month of improvement evidences a firming demand in the housing market.

Several weeks after a young man had been hired he was called into the personnel director’s office. “What’s the meaning of this?” the director asked. “When you applied for this job, you told us you had five years of experience. We’ve discovered this is the first job you’ve ever held.”

“Well,” the young man replied, “in your ad you said you wanted somebody with imagination.”

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