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Markets in a Minute | June 5, 2015

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For the Week Ending June 5, 2015
Please enjoy this quick update on what happened this week in the housing and financial markets.

In the US, manufacturing and business productivity fell sharply with higher labor related costs, which could support inflation. Inflation could lead to higher rates.
Jobless claims continue to point to a tightening jobs market. Strengthening in the labor market keeps the Fed on track to likely raise policy rates later this year.
Bond markets are again selling-off and pushing yields higher across the globe. Concurrent selling in mortgage bond markets is pushing mortgage rates higher too.

Buyers show an unprecedented demand for bigger homes. An increased number of homes built in 2014 had more bedrooms, more bathrooms, and bigger garages.
Existing home sales in April were up 6.1% from a year earlier. Strong demand continues to drive up prices, with 40% of properties sold at or above asking price.
Private residential construction spending increased slightly over last month and more substantially year-over-year. Greater supply could help the housing market.

“Do you really believe your husband when he tells you he goes fishing every weekend?” asks Vicky’s best friend, Myra.

“Why shouldn’t I, Myra?” responds Vicky.

“Well, maybe he’s having an affair!” comments Myra.

“No way!” laughs Vicky. “He never comes home with any fish!”

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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