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Markets in a Minute | July 24, 2015

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For the Week Ending July 24, 2015
Please enjoy this quick update on what happened this week in the housing and financial markets.

Low trading volume and lack of overseas concerns have led to mortgage bond market stability this week. Rates have been less volatile as a result.
Jobless claims fell to lowest levels seen since 1973. Positive jobs data supports the Fed’s plans for increasing policy rates.
Oil prices have tumbled to the lowest prices since April. Combined with a strong dollar, this could offset recent employment data and help mortgage rates improve.

Existing home sales rose to their highest level in nearly 8-1/2 years in June. The strong housing market recovery supports a Fed policy rate hike this year.
Although higher prices should be prompting more homeowners to put their homes up for sale, tight supply of properties remains a constraint to the market.
Freddie Mac released their 2015 U.S. Housing Market Insight & Outlook for July. Both housing starts and prices are expected to continue to rise.

This Week’s Stock Market Report…

Helium was up; feathers were down. Paper was stationary.

Fluorescent tubing was dimmed in light trading. Knives were up sharply.

Cows steered into a bull market. Pencils lost a few points.

Hiking equipment was trailing. Diapers remained unchanged.

Elevators rose, while escalators continued their slow decline.

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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