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Markets in a Minute | August 7, 2015

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For the Week Ending August 7, 2015
Please enjoy this quick update on what happened this week in the housing and financial markets.

Conflicting Fed commentary about the timing of policy rate changes have created some rate volatility. Overall, remarks still point to a 2015 hike.
Additional mixed signals: a drop in consumer sentiment and poor manufacturing report vs. strong vehicle sales and sound service industry numbers.
Two important measures point to inflation below the Fed’s 2% goal for the 38th straight month. This could support a delay in policy rate hikes.

June’s spending on the private construction of single-family homes dropped slightly from May but was still a healthy 12.8% over last year.
According to a survey of home builders, June’s new home sales also dropped slightly from May but were up 18% year-over-year.
Mortgagors now carry more non-mortgage debt than in the last decade, led by auto and student loans. This could potentially reduce loan eligibility for move-up buyers.

Teacher: What book has helped you most in your life?

Student: My parents’ check book.

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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